KUALA LUMPUR (Aug 17): Affin Holdings Bhd reported it recorded a profit after tax of RM306.9 million for the first half of this year, a rise of 27.7% over the previous year’s RM240.3 million.
This was achieved on the back of an improved turnover of RM1.5 billion as compared with RM1.3 billion recorded in the same period previous year, according to a press statement from the company Friday.
For the second quarter of 2012, the group delivered an improved pre-tax profit of RM195.5 million, a 9.9% increase compared with the RM177.9 million registered in the same quarter of the previous year.
“The group’s profit growth for the half year ended 30 June 2012 was mainly due to the increase in net interest income attributed to the loan growth during the period, higher fee based income and treasury income as well as higher share of profit in associate company,” Affin said in the statement.
The improvement in the overall asset quality of the group has also resulted in lower allowance for impairment for the half year ended 30 June 2012, it added.