Business

Published: Monday November 19, 2012 MYT 7:25:00 PM

Affin Q3 earnings up 19.6% to RM161m, dividend 15 sen


KUALA LUMPUR: Affin Holdings Bhd's earnings rose 19.6% to RM161.71mil in the third quarter ended Sept 30, 2012 from RM135.19mil a year ago on lower taxation, higher Islamic banking income and put it on track to realise positive growth in its current financial year.

It said on Monday its revenue increased by 13.3% to RM773.04mil from RM682.25mil. Earnings per share were 10.82 sen compared with 9.05 sen. It declared an interim dividend of 15 sen a share.

At the pre-tax level, the profit of RM211.91mil was lower than the RM216.23mil a year ago. Its taxation and zakat totalled RM50.19mil compared with RM81.03mil a year ago.

For the nine-months ended Sept 30, 2012, its earnings rose 24.7% to RM468.56mil from RM375.45mil. Revenue increased by 14% to RM2.228bil from RM1.953bil.

Profit before tax rose 16.3% to RM621.33mil for the nine months from RM534.47mil in the previous corresponding period previous year.

"The group's profit growth for the nine months period was mainly due to the increase in other operating income, net interest income and Islamic banking income as well as higher share of profit in the associate company, higher write back of allowances for impairment of securities net of higher overhead expenses and finance cost," it said.

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