PETALING JAYA: Tenaga Nasional Bhd’s (TNB) net profit for the second quarter ended June 30, 2019 fell 9.8% to RM1.12 billion from RM1.24 billion a year ago mainly due to the regulatory adjustments which are now accounted for every month starting from this financial year and the MFRS 16 leases.
Revenue jumped 3.0% to RM12.88 billion compared with RM12.50 billion in the previous year’s correspoding quarter.
For the six months period, net profit fell 20.4% to RM2.67 billion from RM3.36 billion a year ago mainly due to the regulatory adjustments which are now accounted for every month starting from this financial year and the MFRS 16 leases which impacted the results by RM112.2 million.
Revenue increased by 5.4% to RM26.12 billion as compared to RM24.77 billion in the same period last year mainly due to the increase in group’s sales of electricity of 5.6%. The group also registered a growth in unit sold of 5.1% during the quarter under review.
The board of directors has approved an interim single tier dividend of 30.0 sen per share in respect of the financial period ended June 30, 2019 amounting to RM1.71 billion. The final dividend for FY2018 was paid on April 11, 2019 totalling RM1.31 billion.
TNB said the performance of the group is expected to remain stable for FY2019.
source https://www.thesundaily.my/business/tnb-q2-earnings-down-9-8-declares-30-sen-dividend-CI1318253
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