KUALA LUMPUR (Feb 23): IOI CORPORATION BHD []’s earnings rose 11% to RM577.67 million in the second quarter ended Dec 31, 2011 from RM520.24 million a year ago.

The company said on Thursday its revenue increased by 4.9% to RM4.165 billion from RM3.970 billion. Earnings per share were 8.99 sen compared with 8.15 sen.

IOI said the board of directors declared the first Interim single tier dividend of 70% or 7.0 sen per ordinary share of 10 sen each.

The group reported a pre-tax profit of RM1.191 billion, which is 12% lower than the profit of RM1.351 billion reported in the previous corresponding period.

“The decrease is due mainly to translation loss on foreign currency denominated borrowings of RM240.5 million (compared to a gain of gain of RM139.1 million a year ago). Segment results of the Group however recorded an increase of 15%, with higher contributions from both PLANTATION [] and resource-based manufacturing segments, offset by lower contributions from property segments,” it said.

For the first half, IOI’s earnings fell 17.9% to RM835.77 million from RM1.018 billion in the previous corresponding period. Its revenue rose 10.9% to RM8.313 billion from RM7.489 billion.