Freight Management secures courier licence, Q4 profit marginally higher

PETALING JAYA : Freight Management Holdings Bhd, which saw net profit improve marginally to RM5.8 million for the fourth quarter ended June 30, 2017, has secured a courier service provider licence for a period of three years.
The licence was secured from the Ministry of Communications and Multimedia for International inbound and outbound and domestic courier service. It expires on July 31, 2020.
Net profit for the quarter was slightly higher than the RM5.5 million registered during the fourth quarter in 2016, on better performance from all divisions other than land freight and higher losses incurred in its tug & barge division.
This was on an 18% increase in revenue to RM124.2 million, from RM105.1 million for the corresponding quarter in the preceding year.
Net profit for the 12 month period was 5.8% higher at RM21 million, compared with RM19.9 million for financial year 2016. This was on a 11.5% increase in revenue to RM461.3 million for the period, from RM413.8 million for the financial year 2016.
The company has announced a second interim dividend of 3.5 sen a share for the financial quarter ended June 30, 2017.
Freight Management's share price closed unchanged at RM1.24. It has a market capitalisation of RM230.82 million.