GROUP FINANCIAL REVIEW Revenue For the financial year ended 31 December 2015 (FY2015), Group revenue of RM10,908.4 million was 17.3% higher than the financial year ended 31 December 2014 (FY2014)’s revenue of RM9,296.3 million. Higher freight rates in the Petroleum shipping business, full-year finance lease income of a Floating Production Storage and Offloading (FPSO) unit and revenue from a number of Engineering, Procurement and Construction (EPC) projects in the Offshore Business segment were the main contributors to the increase in Group revenue. Operating Profit Group operating profit of RM2,782.6 million was 51.1% higher than FY2014’s operating profit of RM1,841.7 million. Higher revenue with improved operating margins, primarily in the Petroleum shipping and Offshore Business segments, and favourable foreign exchange impact from the strengthening of US Dollar currency against Malaysian Ringgit contributed to the increase in operating profit. Profit/Loss Before Tax Group profit before tax of RM2,566.9 million was 6.5% higher than FY2014’s profit before tax of RM2,410.3 million. The increase in profit was largely driven by the strength of operating profit during the year under review. However, the Group also took higher impairment provisions in the current year which moderated the increase in profit. Earnings/Loss Per Share (Sen) Profit attributable to the equity holders of the Corporation of RM2,467.8 million was 12.0% or RM263.5 million higher than RM2,204.3 million profit in FY2014. This translates to an improved earnings per share of 55.3 sen in FY2015 from 49.4 sen in FY2014. Dividends The Board had in August 2015, declared a first interim tax exempt dividend of 7.5 sen per share in respect of FY2015. This first interim tax exempt dividend amounting to RM334.8 million was paid in September 2015. In February 2016, the Board declared a second interim tax exempt dividend in respect of FY2015 of 12.5 sen per share. This second tax exempt dividend of RM558.0 million was paid in March 2016. The Board is recommending a final tax exempt dividend of 10.0 sen per share in respect of FY2015 at the forthcoming Annual General Meeting. In proposing the final dividend, the Board has taken due consideration of the need to provide healthy dividend income to shareholders, while ensuring that future funding requirements of the Group are adequately met to support the Group’s growth objectives. If approved, the final tax exempt dividend of 10.0 sen per share of RM446.4 million will be paid in May 2016. Including the proposed final tax exempt dividend, the aggregated tax exempt dividend of 30.0 sen per share or RM1,339.2 million for FY2015 is higher than the 10.0 sen per share or RM446.4 million total tax exempt dividend paid for FY2014. Our customers need more than just space. We are recognising that with a successful strategy. Gr up Revenue RM10,908.4 million 17.3% increase REDISCOVER I REBUILD I SUSTAIN 06
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