KUALA LUMPUR (Feb 7): OSK Property Holdings Bhd reported a 13% rise in fourth quarter net profit from a year earlier mainly on lower minority interest which mitigated the impact of revenue decline during the period.
In a statement to the exchange, OSK Property said net profit came to RM4.8 million in the quarter ended December 31, 2012 (4QFY12) against RM4.26 million a year earlier while revenue fell 4% to RM54.7 million from RM57.03 million.
The group said it will “continue to source for prime and strategic development lands and explore viable joint-venture opportunities to further enhance its performance and to provide sustainable growth”.
"While cognisant of the potential impact of the continuing global economic uncertainties on the group's performance, the board is optimistic that the group will achieve satisfactory performance in 2013," OSK Property said.
The firm’s cumulative full-year net profit rose 28% to RM31.52 million from RM24.62 million a year earlier although revenue was down 21% to RM215.61 million from RM272.71 million.
The company said it plans to reward shareholders with a final dividend of 2.5 sen a share less 25% income tax in 4QFY12, bringing total dividends for the year to 7.5 sen a share.