KUALA LUMPUR: Freight Management Holdings Bhd (FMH), which saw its net profit surged to RM8.58mil in the fourth quarter ended June 30, is confident of a positive performance in the financial year ended June 30, 2022.

       “For FY22, the group is confident of a positive performance but remains mindful of the challenges and potential downside risks posed by the Covid-19 pandemic.

       “Notwithstanding the challenges, the group remains focused on its core businesses and would continue to expand its customer base regionally and improve its cost management via operational efficiencies,” FMH said in the notes accompanying its financial results.

       Its net profit in the fourth quarter surged 672% from RM1.11mil in the same period last year.

       Revenue for the quarter jumped 79.6% to RM228.27mil against RM127.04mil in the same period a year ago, mainly due to higher freight rates and business activities in the current quarter.

       FMH’s board of directors has declared a third interim single-tier dividend of 1.0 sen per ordinary share, payable on Oct 18.

       For FY21, FMH’s net profit rose 124% to RM27.03mil against RM12.04mil a year ago, while revenue grew 37.4% to RM763.43mil from RM551.6mil previously.