KUALA LUMPUR (Jan 10): Atlan Holdings Bhd’s third quarter net profit rose over seven-fold to RM13.69 million from RM1.6 million a year earlier, on the back of higher revenue and better margins in terms of operating expenses.

Earnings per share for the quarter ended Nov 30, 2018 jumped to 5.4 sen, from 0.63 sen in the same quarter last year, Atlan’s filing with Bursa Malaysia showed.

The group declared a dividend of 10 sen per share, bringing its cumulative dividend in the first three quarters to 20 sen, from 21 sen in the same period last year.

For the third quarter, Atlan’s revenue rose 15.76% to RM215.39 million from RM186.07 million a year ago, thanks to higher contribution from its duty-free goods trading business as well as higher orders for its automotive parts manufacturing business.

Gains in the two segments offset lower contribution from its property and hospitality segment, due to lower occupancy rate and average rental rate combined.

Net profit for the nine months ended Nov 30, 2018 rose 50.43% to RM34.12 million from RM22.68 million in the previous corresponding period. This was despite cumulative revenue falling 7.77% on-year to RM555.88 million from RM602.73 million.

On prospects, Atlan said it will focus on expanding market presence, strengthening operational efficiencies and monitoring key cost drivers closely.

Atlan shares closed unchanged at RM4.40 today, giving the group a market capitalisation of RM1.12 billion.