PORT KLANG: Century Logistics Holdings Bhd’s net profit rose 184% to RM8.8 million in its third quarter (3Q) ended Sept 30, 2009 from RM3.1 million a year earlier, due to increased business activities from new and existing customers.

Revenue rose 53% to RM67.3 million from RM43.9 million, while earnings per share rose to 11.7 sen from 4.1 sen.

The provider of supply chain management and total logistics services declared a single-tier interim dividend of two sen per share. It had on Sept 18 distributed one treasury share for every 10 shares held.

Century’s net profit was up 123.8% from RM3.9 million in the preceding quarter, while revenue rose 43.2% from RM47 million.

In a statement yesterday, Century managing director Steven Teow said its broad offerings, combined with its low fixed cost base, had enabled it to ride through the global economic downturn, while the expansion of its customer base was expected to continue.

He said it had a cash balance of over RM29 million, while net gearing ratio stood at a comfortable 0.33 times, despite the recent construction of a 21,000-square metre distribution centre in Rojana Industrial Park, Ayutthaya, Thailand.

“This is in line with our plans to reallocate our warehouse assets to fast growth areas such as the Port of Tanjung Pelepas (PTP) in Johor and Shah Alam areas, as well as overseas,” he said.


This article appeared in The Edge Financial Daily, November 20, 2009.