KUALA LUMPUR (June 30): LB Aluminium Bhd's fourth quarter net profit fell 76% to RM1.38 million from RM5.86 million a year earlier mainly on higher taxes.

In a statement to Bursa Malaysia today, LB Aluminium said revenue rose to RM124.54 million in the fourth quarter ended April 30, 2017 (4QFY17) from RM109.16 million.

LB Aluminium said net profit fell "due mainly to underprovision of deferred taxation in the previous financial year".

"The group's revenue for the quarter ended April 30, 2017 increased by 14.1% to RM124.54 million compared to RM109.16 million for the preceding year corresponding quarter due mainly to higher business volume as well as higher average selling prices," LB Aluminium said.

For the full year, LB Aluminium said net profit rose to RM17.95 million from RM15.72 million a year earlier. Revenue was higher at RM465.98 million versus RM444.82 million.

LB Aluminium proposed a dividend of 2.5 sen a share for the quarter in review. The company said the dividend would require shareholders' approval.

Looking ahead, LB Aluminium said it was mindful of aluminium price volatility. As such, the company said it would continue to monitor aluminium prices to protect the company's profit margin and ensure selling prices of the company's products remained competitive.

At 12.30pm, LB Aluminium fell 1 sen or 1.1% to 90.5 sen, with 1.25 million shares traded.