KUALA LUMPUR (APRIL 10): Boustead Holdings Bhd shares advanced on Tuesday after its group managing director Tan Sri Lodin Wok Kamaruddin said the company aims to grow the diversified group’s profit before tax (PBT) to RM1 billion and net profit to RM750 million in the next two years amid the expected improving prospects in all divisions.
At 12.14pm, Boustead added three sen to RM5.47 with 410,500 shares traded.
“Personally, I would like to see the group breach the RM1 billion mark for PBT within the next two years,” he said after the company AGM’s on April 9.
“If we can move revenue towards the RM10 billion mark this year, that will be a good achievement,” he said, adding that based on the first three months of 2012, the group’s prospects were looking very healthy.
For FY11 ended Dec 31, Boustead recorded a 14% increase in PBT to RM831 million from RM726 million a year ago. Its revenue rose 38% to RM8.6 billion from RM6.2 billion.
Lodin said the group was allocating some RM1.3 billion for its capital expenditure this year. The largest portion of RM400 million will be for the property division, RM300 million for plantation, RM200 million for shipbuilding, RM100 million for pharmaceuticals and the balance for other operating units.
Lodin expects the plantation division, which contributed 41% to the group’s bottom line last year, to exceed the RM300 million achieved in 2011 if the price of crude palm oil continues to be as strong at between RM3,000 and RM3,500.
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