KUALA LUMPUR (Feb 28): Here is a brief recap of some corporate announcements that made the news on Thursday:

RHB Bank Bhd (KL:RHBBANK) posted a 42.45% increase in net profit to RM834.54 million for the final quarter ended Dec 31, 2024 (4QFY2024), from RM585.91 million in 4QFY2023, driven by higher net interest income and lower allowances for credit losses. Quarterly revenue rose to RM4.58 billion from nearly RM4.4 billion. For FY2024, net profit grew 11.16% to a record high of RM3.12 billion, compared with RM2.81 billion in FY2023. The bank declared a second interim dividend of 28 sen per share for FY2024, bringing the total dividend payout for the full year to 43 sen per share — its highest ever for a financial year. — RHB Bank pays out highest annual dividend after record 4Q and FY2024 earnings

MBSB Bhd’s net profit fell 49.69% to RM151.45 million for 4QFY2024 from RM301.15 million a year ago, due to the absence of a one-off gain of RM354.4 million from the acquisition of Malaysian Industrial Development Finance Bhd (MIDF). This was despite a 29.65% increase in quarterly revenue to RM905.01 million from RM698.05 million, driven mainly by higher profit income from financing and advances. For FY2024, its net profit declined 17.28% to RM406.78 million from RM491.81 million in FY2023, despite a 31.38% increase in revenue to RM3.71 billion from RM2.82 billion. — MBSB’s 4Q net profit halves on absence of one-off gain from MIDF acquisition

IHH Healthcare Bhd’s (KL:IHH) net profit was flat at RM732 million for 4QFY2024, compared with RM728 million a year earlier. Quarterly revenue climbed 26.5% to RM6.69 billion from RM5.29 billion, supported by sustained demand for quality healthcare services, higher inpatient volumes and increased revenue intensity from handling more complex cases. The consolidation of the Timberland Medical Centre and Island Hospital following their acquisition also contributed to the revenue growth. For FY2024, its net profit declined 10% to RM2.66 billion from RM2.95 billion, primarily due to foreign exchange losses, higher staff costs and increased depreciation charges. However, annual revenue grew 16% to RM24.38 billion from RM20.94 billion in FY2023. It declared a final dividend of 5.5 sen per share, payable on April 28, bringing total FY2024 dividend to 10 sen per share, higher against the nine sen per share paid in FY2023. — IHH 4QFY2024 net profit up slightly amid higher costs; declares 5.5 sen final dividend

SD Guthrie Bhd (KL:SDG), the world’s largest palm oil producer by acreage, said its net profit nearly quadrupled to RM772 million in 4QFY2024 compared to RM200 million a year ago, thanks to a surge in prices and land sales, which helped during the quarter as revenue was largely flat at RM5.26 billion. For FY2024, its net profit climbed 16% to RM2.16 billion, as revenue was 9% higher at RM19.83 billion. It declared a final dividend of 11.71 sen per share together with an interim dividend of 4.65 sen per share. Total dividend declared in FY2024 amounted to 16.36 sen per share, up from FY2023's 15 sen per share. — SD Guthrie logs fourfold surge in 4Q earnings, sharply raises dividend

QL Resources Bhd’s (KL:QL) net profit increased 1.9% to RM125.97 million for the third quarter ended Dec 31, 2024 (3QFY2025) from RM123.62 million a year ago, boosted by the palm oil and clean energy and integrated livestock farming segments, which offset weaknesses in the marine product manufacturing and convenience store chain businesses. Quarterly revenue was up 6.2% to RM1.82 billion from RM1.71 billion in 3QFY2024, as all segments registered higher revenue except for marine product manufacturing. For 9MFY2025, its net profit rose 6.7% to RM361.68 million from RM339.07 million, as annual revenue increased 6.2% to RM5.31 billion from RM5 billion. It declared an interim dividend of 2.5 sen per share, down from three sen a year ago. — QL Resources’ 3Q net profit up slightly; pays lower dividend of 2.5 sen

Mr DIY Group (M) Bhd’s (KL:MRDIY) net profit declined 7.2% to RM147.2 million for 4QFY2024 from RM158.63 million a year earlier, due to higher costs related to the group's business expansion and growing store network. Quarterly revenue rose 2.6% to RM1.18 billion from RM1.15 billion in 4QFY2023, driven by a 13.8% increase in store count, which expanded to 1,435 outlets from 1,261. For FY2024, its net profit grew 1.5% to RM568.94 million from RM560.68 million in FY2023, as revenue climbed 6.7% to RM4.65 billion from RM4.36 billion. It declared an interim dividend of 1.8 sen per share, to be paid on March 28. This brings the total payout for FY2024 to five sen per share, making it the highest payout since the group's listing in October 2020. — Mr DIY pays highest dividend since listing for FY2024 despite drop in 4Q profit

Genting Bhd (KL:GENTING) posted its first quarterly loss in two years on higher finance costs and share of losses in joint ventures and associates. The net loss of RM169.39 million for 4QFY2024 compares with a net profit of RM150.99 million a year earlier. Quarterly revenue dropped 5.3% to RM6.88 billion from RM7.27 billion in 4QFY2023, mainly due to reduced contributions from the leisure and hospitality division. For FY2024, its net profit was RM882.95 million, a 4.96% decrease from RM929.20 million in FY2023, despite revenue rising 2.21% to RM27.72 billion from RM27.12 billion. It declared a final dividend of five sen per share, compared with nine sen a year earlier. This brings the total payout for FY2024 to 11 sen per share, lower than the 15 sen paid in FY2023. — Genting posts first quarterly loss in two years, declares lower dividend

Separately, Genting said that Tan Sri Lim Kok Thay is set to relinquish his role as the group's chief executive officer (CEO), a position he has held since 2007. Lim will, however, continue to serve as executive chairman of the group. Datuk Seri Tan Kok Han will succeed Lim as CEO, the group said. Tan has been the group's president and chief operating officer for 18 years. He is also an executive director in Genting. — Lim Kok Thay to relinquish CEO post at Genting, remain as executive chairman

IJM Corp Bhd’s (KL:IJM) net profit rose 12.9% to RM113.34 million for 3QFY2025 from RM100.43 million in 3QFY2024, driven by higher construction activities and a land sale in Penang. This as revenue grew 4.4% to RM1.54 billion, from RM1.48 billion in 3QFY2024. For 9MFY2025, its net profit declined 6.9% to RM274.43 million, while revenue increased 7.2% to RM4.46 billion. No dividend was declared for the latest quarter. — IJM Corp’s 3Q profit rises 13%, sees stronger growth from construction, property divisions

ViTrox Corp Bhd’s (KL:VITROX) net profit fell 7.5% to RM22.58 million for 4QFY2024 from RM24.4 million a year ago, mainly bogged down by increased operating expenses. Quarterly revenue, however, rose 4.6% to RM148.8 million from RM142.23 million, driven by improved sales in the machine vision system segment. It wrapped up FY2024 on a weaker note with a net profit of RM90.36 million — its lowest since FY2019 when it posted an annual earnings of RM79.65 million — a 29.6% drop from the previous year on softer revenue and continuous investment in R&D. Annual revenue also declined 3.9% to a four-year low of RM552.3 million from RM574.92 million. — ViTrox ends FY2024 with weakest annual earnings in five years

NationGate Holdings Bhd (KL:NATGATE) reported record-high net profit and revenue for 4QFY2024, boosted by its data computing segment associated with the assembly of artificial intelligence (AI) servers for Nvidia. Quarterly net profit jumped four times to RM64.06 million from RM15.92 million in 4QFY2023, as revenue surged nearly 18 times to RM3.03 billion from RM171.58 million a year ago. For FY2024, its net profit jumped 2.6 times to RM160.19 million from RM60.81 million, as revenue jumped more than eight times to RM5.27 billion from RM638.3 million. It announced a special dividend of one sen per share and a final dividend of 0.25 sen for the quarter under review, bringing its total dividend to two sen for FY2024, versus one sen for FY2023. — NationGate closes FY2024 with record earnings and revenue, pays 1.25 sen dividend

Convenience store chain operator 7-Eleven Malaysia Holdings Bhd (KL:SEM) posted its first quarterly loss since going public 10 years ago. This was due to share of losses and impairment losses of the investment in joint ventures and tax expenses arising from corporate investments. Its net loss stood at RM2.66 million for 4QFY2024, as opposed to a net profit of RM206.34 million a year ago. This was despite revenue rising 7.38% to RM745.49 million from RM694.28 million a year ago, driven by 69 new store openings along with a boost in sales from the year-end holiday season. For FY2024, its net profit was RM41.61 million, a whopping 84.1% drop from RM261.77 million in FY2023. Annual revenue, meanwhile, grew 5.1% to RM2.93 billion from RM2.78 billion a year earlier. — 7-Eleven Malaysia posts first quarterly loss since listing

Berjaya Corp Bhd’s (KL:BJCORP) net loss narrowed to RM88.68 million in its second quarter ended Dec 31, 2024 (2QFY2025)  from RM120.77 million year ago, dragged by high finance costs and investment-related expenses. The loss extended Berjaya Corp’s stint in the red to three consecutive quarters.  Revenue for 2QFY2025 dipped 1.27% to RM2.2 billion from RM2.23 billion in 2QFY2024, on lower contributions from food retail and property segments. For 6MFY2025, its net loss widened to RM256.53 million from RM109.7 million a year earlier, as revenue dropped 7.7% to RM4.43 billion as compared to RM4.8 billion previously. — Berjaya Corp posts narrower 2Q net loss on finance costs and investment-related expenses

DRB-Hicom Bhd (KL:DRBHCOM) reported its third straight quarterly loss of RM46.6 million in 4QFY2024, against a net profit of RM26.47 million million a year ago,  hurt by higher financing costs, lower automotive sales and margin compression in the banking segment. Quarterly revenue, however, grew 5.2% year-on-year (y-o-y) to RM3.97 billion from RM3.77 billion, thanks to higher contributions from the banking, properties, services and postal segments. For FY2024, its net profit shrunk by 90.6% to RM22.55 million — its lowest annual net profit — against RM238.88 million in FY2023, even as revenue went up 2.1% to RM16.19 billion from RM15.85 billion last year. — Higher financing cost and low car sale keep DRB-Hicom in the red in 4Q; annual profit at all-time low in FY2024

Magnum Bhd (KL:MAGNUM) posted a 44.4% rise in net profit to RM52.08 million for 4QFY2024 from RM36.06 million previously, thanks mainly to a lower prize payout. This was despite a 5% slip in quarterly revenue to RM528.7 million versus RM556.35 million in 4QFY2023. For FY2024, Magnum’s net profit increased 22% to RM152.81 million from RM125.27 million in FY2023, as annual revenue edged up 3.3% to RM2.23 billion versus RM2.16 billion previously. — Magnum posts 44% rise in 4Q profit on lower prize payout, declares 2.5 sen dividend

MBM Resources Bhd’s (KL:MBMR) net profit increased marginally to RM97.72 million for 4QFY2024 from RM94.59 million a year earlier, driven by better performances of associates. Revenue decreased 5.5% to RM660.86 million from RM699.58 million in 4QFY2023, owing to lower supply of Perodua vehicles at year end and reduced Volkswagen volume due to a lack of new models. For FY2024, net profit was flat at RM332.99 million, versus RM331.23 million in FY2023. This was on the back of a 2.87% rise in revenue to RM2.49 billion from RM2.42 billion. — MBM Resources sees marginal growth in 4Q net profit

D&O Green Technologies Bhd’s (KL:D&O) net profit shrank 90.9% year-on-year to RM2.21 million for 4QFY2024 from RM24.32 million. The weak earnings performance was due mainly to lower car production-impacted demand for its automotive LED products. Gross profit margin narrowed to 20% in 4QFY2024 from 26.2% a year ago, due to lower plant utilisation following the capacity expansion in advance catering for new products. Revenue dropped 15.5% to RM261.89 million from RM309.97 million in 4QFY2023. For FY2024, D&O's net profit fell 10.5% to RM39.5 million from RM44.14 million previously. This is despite the group posting a fresh all-time high full-year revenue of RM1.07 billion, up 5.7% from RM1.02 billion previously. — D&O's net profit falls sharply in 4QFY2024 amid lower demand, thinner margin

KNM Group Bhd (KL:KNM) plans to sell its entire stake in its German unit Deutsche KNM GmbH to Japanese-based ceramic company NGK Insulators Ltd for €270 million (RM1.26 billion). The deal, part of a regularisation plan to address its financial troubles and Practice Note 17 (PN17) status, represents a 22.3% increase from previous valuation of €220.8 million in 2022. The proceeds will be used to deleverage KNM, which will significantly reduce its total borrowings to RM15.05 million from RM1.27 billion and improve its gearing ratio from 3.94 times to 0.04 times. The disposal is classified as a major disposal as Deutsche KNM contributes 80.82% of KNM’s total revenue. — KNM to offload German unit at higher price tag of RM1.26b

KNM also said it is working with advisers to sell its other businesses following planned disposal of the said unit. Assets for sale include FBM Hudson Italiana SpA that manufactures heat exchangers, an ethanol plant in Thailand, and a UK-based waste-to-energy project. — KNM says working on other disposals, will focus on Malaysia ops

Malaysian Resources Corporation Bhd’s (KL:MRCB) unit Setia Utama LRT 3 Sdn Bhd has won a reinstatement works contract from Prasarana Malaysia Bhd worth RM2.47 billion that spans 48 months. Separately, it said net profit for 4QFY2024 fell 99.2% to RM629,000 from RM80.23 million a year ago, while its quarterly revenue shrunk 46.4% to RM370.72 million from RM692.16 million. For FY2024, the group’s net profit fell 37% to RM63.67 million from RM101.03 million, as total revenue slid 35.2% to RM1.65 billion from RM2.54 billion in FY2023. It declared a final dividend of one sen per share, consistent with the previous year. — MRCB wins RM2.47b LRT3 reinstatement project, sees earnings contract in FY2024