Kimly reports 14.7% lower earnings of $18.5 mil for 1HFY2022; proposes interim dividend of 0.56 cents

Kimly has reported earnings of $18.5 million for the 1HFY2022 ended March, 14.7% lower than earnings of $21.7 million for the corresponding period the year before.

The lower earnings were due to a $3.0 million increase in administrative expenses of $12.5 million. This is due to repair and maintenance, bank charges, depreciation of property, plant and equipment, insurance, rental and general charges of $1.6 million incurred by the newly acquired Tenderfresh business. The higher depreciation of right-of-use assets, lower government grants, higher repair and maintenance charges, as well as higher depreciation of property, plant and equipment also contributed to the lower figure.