Kuala Lumpur – Tamadam Bonded Warehouse Berhad (“Tamadam”), a leading Malaysian in-flight catering and logistics services provider, today announced its unaudited year-end results for the financial year ended 31st December 2010. The results showed significantly improved performance compared with the previous year.
Compared to the previous year, Tamadam posted a 5.7% improvement in group revenue to RM165.7 million. Profit before tax was RM19.5 million, a 75% increase, while profit after tax improved by 103% from RM5.9 million to RM12.1 million. Earnings per share increased by 170% jumping from 1.33 sen per share to 3.59 sen per share.
“The main contributor to the greatly improved results was the in-flight catering division, which saw an increase in meals served arising from the higher number of passengers travelling from KLIA and Penang airports during the year. During the festive year end season, a new record of 50,000 meals a day was achieved at the KLIA kitchen between Christmas Day and New Year’s Day, the peak travelling period of the year. Tamadam is expected to see further positive improvement to its bottom line in 2011 in both the in-flight catering service division as airlines continue to expand their fleets and routes as well as the logistics division.” said Eric Cheam Heng Cheang, Managing Director.
Tamadam, a public listed company on the Main Market of Bursa Malaysia, is an investment holding company. Companies and joint-ventures in the Tamadam Group provide inflight catering services, warehousing and logistics solutions and operate restaurants. For full details, please download and read the text of the announcements below.
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This announcement is dated 25 February 2011.