, Singapore

Hong Leong Asia’s earnings rise 28.6% YoY to $60.1m

With the increase, the bard proposed a final dividend of $0.02 per share.

Hong Leong Asia Group’s attributable net profit to shareholders rose 28.6% year-on-year (YoY) to $60.1m in the financial year (FY) 2021.

The company’s full-year revenue likewise saw an uptick, increasing  9.7% YoY to $4.9b on the back of higher revenue recorded by its diesel engines (yuchai) and building materials Units.

The revenue of Yuchai rose 7.9% YoY to $4.4b following a 6.2% YoY increase in its units sold to 456,791.

Building materials, meanwhile, saw its revenue increase 29.8% YoY to $471.1m.

Given the latest figures, the board proposed a first and final dividend of $0.02 per share, subject to shareholders’ approval.

Looking forward, the group said it is optimistic that its end markets will further recover in 2022.

“Whilst costs pressures are expected to remain as issues with global supply chains linger and remain vulnerable to higher energy costs, our push towards innovation and productivity improvements with automation and digitalisation will help to mitigate some of the pressures,” the group added.

In the second half of the year, the group is also expecting to complete its Integrated Construction and Prefabrication Hub manufacturing facility which is expected to “introduce higher automation and help improve productivity for its Precast business.”

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