KUALA LUMPUR: LB Aluminium Bhd will continue to closely monitor its operational costs and selling prices to preserve its margins.
“The aluminium segment has incurred higher raw material costs due to recent volatility in global aluminium prices and persistently weak ringgit vis-à-vis the US dollar which has resulted in the escalation of our input costs, primarily aluminium that are quoted in US dollar.
“Nonetheless, the weak ringgit augurs well for our export margins, as most of our export sales are in US dollars,” it said in a filing with Bursa Malaysia.
Commenting on its property segment, LB Aluminium said as at April 30, sales for SASaR and PSV 1 Residences were 97.9% and 76.6%, respectively, with construction progress at 57.2% and 32.9%, respectively.
“The projects will continue contributing positively to the group as and when we achieve higher sales and work progress,” it added.
In the fourth quarter ended April 30 (4Q), LB Aluminium’s net profit surged 62.6% to RM9.4mil, or earnings per share of 2.17 sen compared with RM5.8mil, or 1.33 sen in the same quarter a year ago.
Revenue for the quarter rose 48% to RM273.6mil against RM184.8mil posted last year.
For the full financial year ended April 30 (FY24), it posted a 24.5% lower net profit of RM29.3mil, while revenue grew 22.8% to RM955.5mil.
LB Aluminium has recommended a first and final dividend of 2.50 sen per ordinary share amounting to RM10.87mil in respect of FY24.
The date of payment of the dividend and the date for the determination of dividend entitlement will also be announced later.