Faber’s FY2009 profit before tax up 26.6% to RM141.2 mil

KUALA LUMPUR: Faber Group Bhd recorded profit before tax (PBT) of RM141.2 million for FY 2009, up 26.6% from RM111.5 million for FY2008. Meanwhile, revenue for FY2009 was RM805.3 million, an increase of 21.8% from RM661.2 million for FY2008, stated Faber in a press statement on May 18.

The Group’s Integrated Facilities Management (IFM) business, particularly in the United Arab Emirates, contributed RM682.8 million or 85% to the group’s revenue and RM28.1 million to PBT.

Adnan Mohammad, managing director of Faber said: “The group’s commendable growth and operational improvement in 2009 reflects the successful execution of the strategic plan as well as effective implementation of continual value creation initiatives throughout the organisation.”

He further elaborates that the company’s focus on its core businesses and increasing its value propositions as reasons for the group’s strong performance.

As a result the group’s shareholders’ fund have increased by 22.4% to RM389.2 million in FY2009 from RM318.1 million in FY2008. Faber’s operational earnings per share for FY2009 is 22.9 sen, an increase of 5.7 sen from FY2008’s 17.2 sen.

The Board of Directors proposed a final dividend of 6% less 25% taxation, equivalent of 4.5 sen per ordinary share on 363 million ordinary shares amounting to a net dividend of RM16.3 million for FY2009 during the company’s 47th AGM on May 18. Shareholders received 4% in FY2008.