The Group's revenue for 3Q21 and YTD were relatively flat compared to the corresponding period last year with lower contribution from Automotive Division for 3Q21 and lower contribution from Property and Automotive division for the YTD, mitigated by higher contribution from all other divisions.
Nonetheless, the Group's Operating Profit for 3Q21 and YTD were 75% and 33% above the corresponding period last year respectively with higher profit contribution from all divisions except for Credit Financing Division for the YTD.
PBT and PAT for 3Q21 and YTD also benefitted from lower finance costs due to lower borrowings and lower costs of fund.
Consequently, EPS for 3Q21 and YTD at 15.33 sen and 24.10 sen respectively were 97% and 51% above last year.
(RM' Million)
3Q21
3Q20
Change
YTD
YTD
Change
2021
2020
Revenue
1,633.5
1,661.7
(2%)
4,173.4
4,126.3
1%
Gross profit 1
736.2
424.9
73%
1,471.2
1,101.1
34%
EBITDA
640.8
382.1
68%
1,199.9
925.7
30%
Operating profit 2
593.8
338.7
75%
1,059.8
795.5
33%
Finance expenses
(37.5)
(60.2)
(38%)
(133.8)
(189.2)
(29%)
Profit before tax
561.5
278.3
102%
935.4
605.2
55%
Taxation
(155.6)
(67.1)
132%
(265.6)
(184.4)
44%
Profit after tax
406.0
211.2
92%
669.8
420.8
59%
Attributable to
381.6
193.7
97%
599.9
398.2
51%
shareholders
Attributable to MI
24.4
17.5
40%
69.9
22.6
209%
EPS (sen)
15.33
7.78
97%
24.10
15.99
51%
Note:
Includes share of Inverfin's PBIT
Includes Interest Income, Share of Inverfin's PBIT by Property Division and share of associate and JV's PAT by Hafary; and share of JV's PAT by MMSB.
4
Group segment results
(RM' Million)
REVENUE
OPERATING PROFIT
REVENUE
OPERATING PROFIT
3Q21
3Q20
Change
3Q21
3Q20
Change
YTD
YTD
Change
YTD
YTD
Change
2021
2020
2021
2020
Plantation
173.6
128.9
35%
70.6
34.5
105%
476.0
314.3
51%
173.8
60.2
189%
Property 1
566.9
462.3
23%
445.9
233.2
91%
1,036.4
1,199.1
(14%)
672.9
630.7
7%
Credit Financing
71.0
69.4
2%
52.7
45.1
17%
218.2
214.9
2%
159.8
171.0
(7%)
Automotive
264.4
507.6
(48%)
1.5
(11.5)
113%
841.4
981.6
(14%)
0.3
(40.8)
101%
Trading2
491.6
442.3
11%
24.8
2.1
1075%
1,391.7
1,313.9
6%
67.0
1.9
3430%
Building Materials 3
133.0
109.4
22%
19.4
14.9
31%
386.8
265.4
46%
46.0
4.2
999%
Subtotal
1,700.5
1,719.9
(1%)
614.9
318.3
93%
4,350.5
4,289.2
1%
1,119.8
827.2
35%
Consolidation
(67.0)
(58.2)
(21.1)
20.4
(177.1)
(162.9)
(60.0)
(31.7)
adjustments &
others
Group
1,633.5
1,661.7
(2%)
593.8
338.7
75%
4,173.4
4,126.3
1%
1,059.8
795.5
33%
Note:
Includes share of Inverfin's PBIT from Menara Citibank
Includes share of JV's results by MMSB
Includes share of associate and JV's results by Hafary
5
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Hap Seng Consolidated Bhd published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 11:09:07 UTC.
Hap Seng Consolidated Berhad is a Malaysia-based investment holding company. The Company's segments include Plantation, Property, Credit Financing, Automotive, Trading, Building materials and Other. The Plantation segment is engaged in the cultivation of oil palm and processing of fresh fruit bunches. The Property segment includes property investment, property development and hospitality. The Credit Financing segment is engaged in the provision of financial services. The Automotive segment is engaged in the trading in motor vehicles, spare parts and servicing of motor vehicles. The Trading segment is engaged in the trading and distribution of fertilizers and agro-chemical, trading of general building materials and petroleum products, and manufacturing and trading of tiles. The Building materials segment includes operation of stone quarries and asphalt plants, and manufacturing of bricks. It operates in Malaysia, with market presence in Singapore, Indonesia, China and United Kingdom.
HAP SENG CONSOLIDATED 
