KUALA LUMPUR (Mar 27): Yinson Holdings Bhd’s net profit for the fourth quarter ended Jan 31, 2015 (4QFY15) was largely unchanged at RM99.73 million compared to the RM98.59 million it recorded in the same corresponding quarter last year.

Revenue was up a marginal 2% to RM253.62 million from RM249.44 million in 4QFY14.

But its earnings per share (EPS) for the quarter was lower at 10.49 sen per share, compared to 14.33 sen in the year before, due to a wider share base, Yinson’s filing to Bursa Malaysia today showed.

The company has also recommended a final dividend of 1.5 sen a share in respect of the year ended Jan 31, 2015 (FY15), which is subject to shareholders’ approval at its forthcoming annual general meeting.

For FY15, Yinson’s net profit soared 77% to RM247.51 million from RM139.75 million in the preceding year, while revenue climbed 14% to RM1.083 billion from RM941.86 million.

In its filing with the exchange, the higher profit for the year was attribtued to the gain from disposal of subsidiary and joint venture, fair value gain on forward contracts, favourable foreign exchange rates, and an increase in share of results of joint ventures.

The group added that its marine segment posted better results for the year, due to better contribution from its new subsidiary Yinson Production AS, though that was partly offset by a drop in profit from its transport and trading segments.

Going forward, Yinson (fundamental: 1.5; valuation: 1.5) expects a challenging year ahead due to the weakness in global economies and the fall in commodity prices.

“The sharp decline in the price of oil and the uncertainty over its future price path, coupled with the attendant effects on the prices of other commodities, further compound the challenging global environment.

“Amid this challenging landscape, the group shall strive to sustain satisfacory results for the financial year ending Jan 31, 2016 (FY16),” said the group.

Yinson climbed 1 sen or 0.36% to settle at RM2.82 today, bringing its market capitalisation to RM2.9 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)