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Hot Stock RCE Capital jumps 9.8% on solid 3Q earnings
by Cals Fri 05 Feb 2016, 08:22
- Hot Stock
[size=28]RCE Capital jumps 9.8% on solid 3Q earnings
By Surin Murugiah / theedgemarkets.com | February 4, 2016 : 9:22 AM MYTKUALA LUMPUR (Feb 4): Shares of RCE Capital Bhd jumped 9.8% in early trade today after its net profit went up more than four times to RM13 million in the third quarter ended 31 Dec 2015 (3QFY16), from RM3.13 million a year ago, as its revenue rose 23.9% to RM41.55 million, primarily driven by higher interest income.
At 9.06am, RCE Capital rose 2.5 sen to 28 sen with 1.83 million shares done.
The favourable results were also because of a RM1.9 million net gain on disposal of an investment property, its bourse filing today showed. RCE also noted that the last corresponding quarter's net profit came in after taking into consideration the preference share dividend paid.
For the cumulative nine months (9MFY16), the group’s net profit more than doubled to RM32.66 million, from RM15.65 million in 9MFY15; while its revenue rose 22.6% to RM118.08 million, from RM96.3 million, primarily driven by higher interest income, as the loan base grew by 16.9% to RM1.362 billion, from RM1.165 billion.
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