Hap Seng Consolidated Berhad Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2017; Reports Impairment Charges for the Fourth Quarter Ended Dec. 31, 2017
For the full year, the company reported revenue was MYR 5,288,733,000 against MYR 4,891,714,000 a year ago. Operating profit was MYR 975,159,000 against MYR 811,136,000 a year ago. Profit before tax was MYR 1,395,388,000 against MYR 1,244,935,000 a year ago. Profit for the period was MYR 1,182,447,000 against MYR 1,065,443,000 a year ago. Profit attributable to owners of the company was MYR 1,103,902,000 against MYR 1,000,960,000 a year ago. Basic earnings per share were 44.34 sen against 42.36 sen a year ago. Net cash used in operating activities was MYR 855,170,000 against net cash flows generated from operating activities of MYR 625,894,000 a year ago. Purchase of property, plant and equipment was MYR 153,526,000 against MYR 250,044,000 a year ago. Additions to biological assets were MYR 543,000 against MYR 16,544,000 a year ago.
Impairment loss on property, plant and equipment in the current quarter was MYR 34,870,000, property, plant and equipment written off was MYR 1,293,000 and biological assets written off was MYR 155,000.