BIMB Q3 net profit down 4.3%

PETALING JAYA: BIMB Holdings Bhd's net profit for the third quarter ended Sept 30, 2015 fell 4.3% to RM119.82 million from RM125.29 million a year ago, on the back of a 7.8% revenue increase to RM802.56 million from RM744.48 million.
Its earnings per share were 7.77 sen compared with 8.39 sen.
The financial group declared an interim single tier dividend for the financial year ending Dec 31, 2015 of 12.2% per share amounting to RM188.15 million.
It said that the difference of the current interim dividend was lower to last year's 14.7% per share due to the need for group to conserve funds to be used for full settlement of profit payment for its 10-year Islamic securities of RM113.6 million instead of coupon payment of RM25.0 million.
It was also proposed that the dividend reinvestment plan be made applicable to the entire proposed interim dividend.
For the nine months period, BIMB's net profit rose marginally to RM385.41 million from RM378.42 million as a result of the acquisition of 49% interest in Bank Islam Malaysia Bhd.
Revenue in the period increased 9.9 % to RM2.43 billion from RM2.20 billion.