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NewsHot Stock Hua Yang rises 3.87% on higher 2Q earnings
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Hot Stock Hua Yang rises 3.87% on higher 2Q earnings
by Cals Thu 22 Oct 2015, 17:20
- Hot Stock
[size=28]Hua Yang rises 3.87% on higher 2Q earnings
By Surin Murugiah / theedgemarkets.com | October 22, 2015 : 9:33 AM MYTKUALA LUMPUR (Oct 22): Shares of Hua Yang Bhd ([You must be registered and logged in to see this image.] Valuation: 3.00, Fundamental: 1.90) rose 3.87% in early trade today after the company’s net profit for the second quarter ended Sept 30, 2015 (2QFY16) grew 10.4% year-on-year to RM28.69 million or 10.87 sen per share, from RM25.98 million or 9.84 sen a year ago, due to better performance from the property development segment.
At 9.13am, Hua Yang rose 7 sen to RM1.88 with 111,700 shares traded.
Revenue for the quarter increased 8% to RM150.62 million, from RM139.49 million in 2QFY15, its filing with Bursa Malaysia revealed today.
For the cumulative six months (6MFY16), its net profit increased 17.4% to RM58.58 million or 22.19 sen per share, versus RM49.92 million or 18.91 sen per share in 6MFY15.
Revenue for the period came in 6.24% higher at RM293.19 million, from RM275.96 million in the previous corresponding period.
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