KUALA LUMPUR (Nov 24): MBM Resources Bhd's net profit jumped 72% for the third quarter ended Sept 30, 2023 (3QFY2023), boosted by a gain of RM28.4 million arising from disposal of a piece of vacant land in Bandar Sri Sendayan, Negeri Sembilan.

The group declared a special dividend of seven sen and an interim dividend of six sen, bringing the total payout per share to 13 sen, with the ex-date set on Dec 8.

Net profit for 3QFY2023 rose to RM104.76 million or 26.8 sen per share, from RM60.80 million or 15.55 sen per share a year ago, MBM’s stock exchange filing on Friday showed.

Revenue was flat at RM621.27 million, compared with RM621.17 million in 3QFY2022.

For the nine-month period, net profit rose 5.6% to RM236.64 million from RM224.14 million in the previous corresponding period, while revenue grew 3.6% to RM1.72 billion from RM1.66 billion.

MBM anticipates that the slightly improved financial data and healthy near-term vehicle demand would sustain its sales and manufacturing volume for the remainder of the year.

“The group anticipates that with Perodua's order bank to date and the strong projected production volume from major OEMs (original equipment manufacturers), the demand will sustain both the group's vehicle sales and manufacturing volume for the remainder of the year.

“The group remains committed to stringent cost management and operational efficiency enhancements,” it said.

Shares of MBM closed four sen or 0.9% lower at RM4.26, giving the group a market capitalisation of RM1.66 billion. The stock has gained 46.5% year-to-date.