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    HAPSENG   MYL3034OO005

HAP SENG CONSOLIDATED BERHAD

(HAPSENG)
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Hap Seng Consolidated Berhad : 2nd Quarter 2021

08/26/2021 | 08:11pm EDT

2nd Quarter Ended 30 June 2021 Results

26 August 2021

Scope

  • Group financials
    2 Operations review

2

SECTION 1

Group financials

Consolidated income statement summary

  • The Group's revenue for 2Q21 and YTD were 28% and 3% higher than the corresponding period last year with higher contribution from all divisions except Property Division.
  • Operating Profit for 2Q21 and YTD also registered increase of 34% and 2% respectively with higher contribution from all divisions except Property and Credit Financing Divisions.
  • PBT and PAT for 2Q21 and YTD also benefitted from lower finance costs due to lower borrowings and lower costs of fund.
  • Consequently, EPS for 2Q21 and YTD at 3.92 sen and 8.77 sen respectively were 121% and 7% above last year.

(RM' Million)

2Q21

2Q20

Change

YTD

YTD

Change

2021

2020

Revenue

1,262.4

989.6

28%

2,540.0

2,464.6

3%

Gross profit 1

356.2

261.0

36%

735.1

676.2

9%

EBITDA

260.7

200.7

30%

559.0

543.6

3%

Operating profit 2

215.2

160.8

34%

466.0

456.8

2%

Finance expenses

(44.3)

(65.5)

(32%)

(96.3)

(129.1)

(25%)

Profit before tax

172.2

92.6

86%

373.8

326.9

14%

Taxation

(49.0)

(46.6)

5%

(110.0)

(117.3)

(6%)

Profit after tax

123.2

46.0

168%

263.8

209.6

26%

Attributable to

shareholders

97.5

44.1

121%

218.3

204.4

7%

Attributable to MI

25.7

1.9

1213%

45.5

5.2

781%

EPS (sen)

3.92

1.77

121%

8.77

8.21

7%

Note:

  1. Includes share of Inverfin's PBIT
  2. 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

2Q21

2Q20

Change

2Q21

2Q20

Change

YTD

YTD

Change

YTD

YTD

Change

2021

2020

2021

2020

Plantation

181.1

83.6

117%

63.4

32.0

98%

302.4

185.4

63%

103.2

25.6

303%

Property 1

201.7

246.0

(18%)

83.3

144.4

(42%)

469.5

736.9

(36%)

226.9

397.5

(43%)

Credit Financing

73.9

71.1

4%

51.3

58.8

(13%)

147.3

145.5

1%

107.1

125.8

(15%)

Automotive

264.8

196.1

35%

(3.7)

(19.2)

81%

577.0

474.0

22%

(1.2)

(29.2)

96%

Trading2

459.0

394.4

16%

22.5

(15.7)

243%

900.1

871.6

3%

42.2

(0.2)

>1000%

Building Materials 3

132.2

36.3

264%

10.8

(16.6)

165%

253.7

156.0

63%

26.6

(10.7)

349%

Subtotal

1,312.7

1,027.5

28%

227.6

183.7

24%

2,650.0

2,569.4

3%

504.8

508.8

(1%)

Consolidation

adjustments &

(50.3)

(37.9)

(12.4)

(22.9)

(110.0)

(104.8)

(38.8)

(52.0)

others

Group

1,262.4

989.6

28%

215.2

160.8

34%

2,540.0

2,464.6

3%

466.0

456.8

2%

Note:

  1. Includes share of Inverfin's PBIT from Menara Citibank
  2. Includes share of JV's results by MMSB
  3. Includes share of associate and JV's results by Hafary

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Hap Seng Consolidated Bhd published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 00:10:03 UTC.


© Publicnow 2021
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Sales 2020 5 850 M 1 403 M 1 403 M
Net income 2020 750 M 180 M 180 M
Net Debt 2020 3 570 M 856 M 856 M
P/E ratio 2020 28,5x
Yield 2020 2,91%
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