IOI Corporation Berhad Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended June 30, 2014; Provides Group Outlook for the Fiscal 2015
For the full year, the company reported revenue from continuing operations of MYR 11,910.6 million compared to revenue from continuing operations of MYR 12,198.5 million for the same period a year ago. Operating profit was MYR 1,778.4 million compared to MYR 1,719.0 million last year. Profit before taxation was MYR 1,670.8 million compared to MYR 1,603.5 million last year. Profit from continuing operations was MYR 1,262.4 million compared to MYR 1,283.3 million last year. Profit was MYR 3,389.7 million compared to MYR 1,998.2 million last year. Profit attributable to owners of the parent from continuing operations was MYR 1,254.6 million or 19.64 sen per diluted share compared to MYR 1,280.1 million or 19.98 sen per diluted share last year. Total profit attributable to owners of the parent was MYR 3,389.7 million or 52.80 sen per diluted share compared to MYR 1,998.2 million or 30.81 sen per diluted share last year. Net cash inflow from operating activities was MYR 1,662.6 million compared to MYR 2,775.2 million last year. Additions to property, plant and equipment was MYR 336.2 million compared to MYR 451.0 million last year. Additions to investment properties were MYR 125.1 million compared to MYR 450.5 million last year. The significant increase in profit is due mainly to the gain of MYR 1.89 billion arising from the demerger of the property business from the group, moderated by translation loss of MYR 40.3 million on foreign currency denominated borrowings as compared to a translation gain of MYR 191.4 million for the same period last year. Excluding the non-recurring items and translation difference above, the group's operating profit from its continuing operations for fiscal 2014 of MYR 1,945.7 million is 19% higher than the operating profit of MYR 1,631.6 million reported for fiscal 2013, mainly due to higher contribution from all business segments and also sustainable demand of oleochemicals products from the industrial users. Net assets per share attributable to owners of the company was MYR 0.95 compared to MYR 2.14 per share last year.
Overall, the group's performance for fiscal 2015 is expected to be satisfactory.