Annual Report 2012 - IOI Group

DIRECTORS’REPORTThe Directors of IOI Corporation Berhad have pleasure in submitting their report and the audited financial statements of the Group andof the Company for the financial year ended 30 June 2012.Principal ActivitiesThe principal activities of the Company consist of investment holding and the cultivation of oil palm and processing of palm oil.The principal activities of the subsidiaries, associates and jointly controlled entities are set out in Note 46 to the financial statements.There have been no significant changes in the nature of the activities of the Group and of the Company during the financial year.Financial ResultsThe audited results of the Group and of the Company for the financial year ended 30 June 2012 are as follows:GroupRM’000CompanyRM’000Profit before taxation 2,378,961 745,504Taxation (550,432) (54,839)Profit for the financial year 1,828,529 690,665Attributable to:Owners of the parent 1,789,370 690,665Non-controlling interests 39,159 –1,828,529 690,665DividendsDividends declared and paid since the end of the previous financial year were as follows:CompanyRM’000In respect of the financial year ended 30 June 2011:Second interim single tier dividend of 9.0 sen per ordinary share, paid on 7 October 2011 575,571In respect of the financial year ended 30 June 2012:First interim single tier dividend of 7.0 sen per ordinary share, paid on 29 March 2012 447,8831,023,454The Directors have declared a second interim single tier dividend of 8.5 sen per ordinary share, amounting to RM543,856,367 in respectof the financial year ended 30 June 2012. The dividend is payable on 4 October 2012 to shareholders whose names appear in the Recordof Depositors of the Company at the close of business on 26 September 2012.No final dividend has been recommended for the financial year ended 30 June 2012.102IOI CORPORATION BERHADAnnual Report 2012