KUALA LUMPUR: Oriental Holdings Bhd’s net profit soared 56 per cent to RM500.84 million for the financial year ended Dec 31, 2022 (FY2022) from RM320.95 million a year ago.
Revenue jumped to RM3.83 billion from RM3.27 billion previously, mainly attributed to the higher contribution from all segments, it said in a filing with Bursa Malaysia.
“The revenue and operating profit from the automotive segment increased by 17.3 per cent to RM1.89 billion and 13.8 per cent to RM82.9 million respectively.
“The plantation segment generated a revenue of RM885.6 million, an increase of 6.8 per cent from RM829.0 million previously, while the plastic segment recorded a 42.5 per cent rise in revenue to RM264.7 million,” it said.
Meanwhile, the hotels and resorts segment recorded a revenue of RM227.6 million (2021: RM192.6 million) and registered an exceptional gain in operating profit of RM248.5 million.
The group paid an interim single-tier dividend of 20 sen per ordinary stock totalling RM124.07 million for FY2022 on Nov 17, 2022.
“The board will continue to demonstrate resilience by placing emphasis on improving our efficiency and look forward to seek excellent business opportunities to add synergy to the existing business,” it added. – BERNAMA
