Hot Stock TRIplc jumps 19% on 3Q result

Hot Stock TRIplc jumps 19% on 3Q result
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 24 April 2013 12:48


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KUALA LUMPUR (April 24): TRIPLC BHD [] shares leapt by as much as 19% today, in tandem with the 35-fold jump in earnings for its third quarter ended February 28, 2013 (3QFY13).

At noon break, the CONSTRUCTION [] firm’s counter was up by 8.5 sen or 17% to 58.5 sen. The stock, which was usually thinly traded, saw 1.19 million shares changed hands.

Yesterday, TRIplc announced its 3QFY13 net profit to be at RM8.4 million or 35 times bigger than the previous corresponding period’s RM239,000. Revenue for 3QFY13 was RM49.01 million, much higher than RM12.1 million posted from a year earlier.

TRIplc explained that the jump in earnings was due to its construction for UiTM Zone 1 Phase 2 in Puncak Alam, Selangor.

For the first nine months of this financial year (9MFY12), the firm made RM26.04 million in net profit, which was 148% greater than the previous year’s RM10.49 million. Revenue, meanwhile, was 176% times higher at RM132.11 million against 9MFY11’s RM47.81 million.