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Hot Stock Taliworks up 11% on 2Q profit, revenue growth
by Cals Fri 08 Aug 2014, 03:09
| Hot Stock Taliworks up 11% on 2Q profit, revenue growth |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Thursday, 07 August 2014 13:47 KUALA LUMPUR (Aug 7): Taliworks Corp Bhd rose as much as 11% after the company reported a 32% increase in second quarter net profit from a year earlier. Shares of the water treatment and construction group rose as much as 13 sen to RM1.35 before reducing gains to settle at RM1.33 at 12.30pm. The stock saw trades of 733,400 shares. Kenanga Investment Bank Bhd placed an immediate technical resistance of RM1.24 on Taliworks shares followed by subsequent targets at RM1.26 and RM1.27. Immediate support for the stock was seen at RM1.21. Taliworks reported a 32% increase in net profit to RM12.69 million in the second quarter ended June 30, 2014 from RM9.6 million a year earlier. Revenue rose to RM81.8 million from RM78.7 million. The company attributed its profit growth to better performance in all business segments. On prospects, the group said it expected its financial results to be largely driven by the performance of the water treatment, supply and distribution business. This is because the segment contributed the bulk of its revenue and profit. |
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