KUALA LUMPUR: DRB-Hicom Bhd posted a net loss of RM60.7 million in the fourth quarter ended March 31, 2009 compared with net profit of RM38.89 million a year ago due to impairment losses for property, plant and equipment.

The company said on May 28 that revenue was RM1.47 billion compared with RM1.36 billion a year ago. Loss per share was 4.36 sen versus earnings per share of 3.86 sen. It proposed dividend of 2.5 sen per share compared with 3.5 sen a year ago.

“The adverse results in the fourth quarter was mainly due to impairment losses of certain property, plant and equipment and investment properties and also allowance for slow moving inventories,” it said.

For the financial year ended March 31; group revenue rose 52% to RM6.10 billion from RM4.01 billion in the previous financial year.

“The increase is mainly attributed to the recognition of revenue of Edaran Nasional Otomobil Bhd (12 months revenue in the current year as against four months in the previous financial year), Bank Muamalat Malaysia Berhad and Rangkai Positif Sdn. Bhd. following these companies becoming subsidiaries of the Group,” it said.

Net profit rose 125% to RM660.51 million from RM292.39 million in the previous financial year mainly due to the gain on disposal of EON Capital Bhd.