KUALA LUMPUR: Malakoff Corp Bhd registered improved revenue and net profit in the second quarter as higher coal prices boosted income from its energy business, as well as higher contributions from Alam Flora Sdn Bhd and overseas associates.
Revenue in the three-mo0nth ended June 30 rose 5.2% to RM1.58bil from a year ago primarily due to higher energy payments recorded from Tanjung Bin Power Sdn Bhd (TBP) and Tanjung Bin Energy Sdn Bhd (TBE) on the back of higher applicable coal price.
"However, these were partially offset by lower energy payments recorded from Segari Energy Ventures Sdn Bhd (SEV) and Prai Power Sdn Bhd (PPSB) given the decrease in despatch factor," it said in a filing today.
Net profit increase 12% to RM117.7mil.
This was attributed to to higher contribution from TBP coal plant, Alam Flora Sdn Bhd and foreign investments in associates.
However, these were partially offset by lower contribution from TBE coal plant given the absence of a one-time gain last year.?
Malakoff has declared an interim dividend payout of 3.1 sen a share.