The Group's revenue for 4Q21 and for FY2021 were higher than the corresponding period last year with higher contribution from Plantation, Trading and Building Material Divisions. Credit Financing Division also registered higher revenue for FY2021 despite lower revenue for 4Q21.
The Group's Operating Profit for 4Q21 and FY2021 were also higher than the corresponding period last year with higher profit contribution from all divisions except for Property Division.
PBT for 4Q21 and FY2021 were also higher than last year, benefitting from lower finance expenses due to lower borrowings and lower costs of fund.
Consequently, PAT and EPS for FY2021 were higher than last year by 26% and 20% respectively despite lower PAT for 4Q21 due to reversal of deferred tax assets.
(RM' Million)
4Q21
4Q20
Change
2021
2020
Change
Revenue
1,839.3
1,724.1
7%
6,012.8
5,850.3
3%
Gross profit 1
725.8
648.5
12%
2,197.0
1,749.6
26%
EBITDA
590.5
503.4
17%
1,790.4
1,429.1
25%
Operating profit 2
548.8
464.9
18%
1,608.6
1,260.4
28%
Finance expenses
(42.3)
(57.9)
(27%)
(176.1)
(247.1)
(29%)
Profit before tax
514.5
501.7
3%
1,449.9
1,106.9
31%
Taxation
(178.9)
(123.7)
45%
(444.6)
(308.1)
44%
Profit after tax
335.6
378.0
(11%)
1,005.3
798.8
26%
Attributable to
300.5
352.0
(15%)
900.4
750.2
20%
shareholders
Attributable to MI
35.1
26.0
35%
104.9
48.6
116%
EPS (sen)
12.07
14.14
(15%)
36.17
30.13
20%
Note:
Includes share of Inverfin and Sunrise Strategy's PBIT
Includes Interest Income, Share of Inverfin and Sunrise Strategy'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
4Q21
4Q20
Change
4Q21
4Q20
Change
2021
2020
Change
2021
2020
Change
Plantation
194.8
153.3
27%
118.7
50.8
134%
670.9
467.6
43%
292.6
110.9
164%
Property 1
502.1
577.3
(13%)
325.6
503.9
(35%)
1,538.5
1,776.4
(13%)
998.4
1,134.6
(12%)
Credit Financing
69.9
70.9
(1%)
51.4
39.0
32%
288.1
285.8
1%
211.2
209.9
1%
Automotive
364.6
397.3
(8%)
7.7
(24.2)
132%
1,206.0
1,378.9
(13%)
8.0
(65.0)
112%
Trading2
636.1
439.3
45%
29.8
(67.1)
144%
2,027.8
1,753.2
16%
96.8
(65.2)
249%
Building Materials 3
156.4
138.8
13%
17.0
(32.3)
153%
543.2
404.2
34%
63.0
(28.1)
324%
Subtotal
1,923.9
1,776.9
8%
550.2
470.1
17%
6,274.5
6,066.1
3%
1,670.0
1,297.1
29%
Consolidation
(84.6)
(52.8)
(1.4)
(5.2)
(261.7)
(215.8)
(61.4)
(36.7)
adjustments &
others
Group
1,839.3
1,724.1
7%
548.8
464.9
18%
6,012.8
5,850.3
3%
1,608.6
1,260.4
28%
Note:
Includes share of Inverfin and Sunrise Strategy's PBIT
Includes share of JV's results by MMSB
Includes share of associate and JV's results by Hafary
5
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Disclaimer
Hap Seng Consolidated Bhd published this content on 26 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 09:21:07 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.
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