The Star – Business (19 April 2011)

KUALA LUMPUR: Kumpulan Johor Corp’s (JCorp) profit before tax and zakat jumped 37.4% to RM962mil for the financial year ended December 2010 from RM700mil the previous year.

The figure was also the highest achieved since its establishment 40 years ago.

Sales rose 6.1% to RM7.524bil from RM7.089bil the previous year.

At company level, profit before tax and zakat rose by 18% to RM118mil compared with RM100mil the previous year while sales came down by 22.4% to RM388mil compared with RM500mil in 2009.

In a statement yesterday, JCorp said the decline in sales at company level was due to a major transaction in 2009 involving the mortage of its industrial land to a Europe-based company.

The rise in profit at group level is due to the contribution from excellent performances of companies in the group with the major contribution coming from Kulim (M) Bhd, it said.

“The rise in crude palm oil towards end of 2010 and increased operational efficiencies helped to bring in good profits for the plantation sector which owns estates in Malaysia, Papua New Guinea and the Solomon Islands,” it said.

JCorp said the performances of QSR Brands Bhd including KFC Holdings (M) Bhd also improved, enhancing their contribution to Kulim.