Posted by Jimmy Song > 2017-04-28 07:53 | Report Abuse

KUALA LUMPUR, 27 APRIL 2017 Q4FYE2017 FINANCIAL PERFORMANCE Atlan Holdings Bhd (“Atlan” or the “Group”), today announced its 4th quarter (“Q4FYE2017”) results for the financial year ended 28th February 2017 with a revenue of RM196.4 million. The Group also reported an improved profit after tax (“PAT”) of RM18.1 million and profit after tax and minority interest (“PATAMI”) of RM12.6 million for the quarter under review, representing an increase of 13.6% and 9.2% respectively as compared to its corresponding quarter Q4FYE2016. FULL YEAR PERFORMANCE Atlan achieved a turnover of RM809.4 million for its financial year ended 28th February 2017 (“FYE2017”). The Group also reported strong double digit growth with a PAT of RM75.6 million and PATAMI of RM54.5 million, an increase of 34.9% and 27.4% respectively compared to FYE2016. The increase is mainly due to a net foreign exchange gain of RM9 million. The Group’s enhanced financial performance was mainly due to the overall improvement in revenue from its Duty Free division (“DFIL”). This subsidiary was the core contributor of the Group’s revenue and its revenue growth was also the result of the improvement in pricing of certain products and improved contributions from airports outlets in Malaysia. Furthermore, the Group’s two core divisions comprising automotive and property & hospitality reported revenues of RM147.2 million and RM29.3 million, which makes up 18.2% and 3.6% respectively to the total revenue for FYE2017. As at 28th February 2017, the Group’s balance sheet had grown in strength to a total cash and bank balances of RM303.2 million and net assets of RM648.8 million from RM84.2 million and RM485.7 million as at 29th February 2016 respectively. Gearing ratio improved from 0.24 times as at 29th February 2016 to 0.11 times as at 28th February 2017. DIVIDEND For the financial year under review, the Group has paid a total dividend of RM0.225 per ordinary share for FYE2017 amounting to RM57.1 million, representing a total dividend payout ratio of 75.5%. “Given the prevailing economic conditions, the business environment in which the Group operates is expected to remain challenging. The Group remains cautiously positive and will endeavor to continue to improve on our performances.” said Mr. Lee Sze Siang, Executive Director of Atlan Holdings Bhd.