PUC Founder Q3 earnings surge 900% to RM2.81m Saturday, 29 November 2014

by **Cals** Mon 01 Dec 2014, 00:55

PUC Founder Q3 earnings surge 900% to RM2.81m

Saturday, 29 November 2014

KUALA LUMPUR: PUC Founder (MSC) Bhd’s earnings surged more than 900% to RM2.81mil in the third quarter ended Sept 30, 2014 from only RM280,000 a year ago after consolidating the financial results of the enlarged group after completing the acquisition of Red Media Asia Ltd (RMA).
The group, whose core activities include biometrics, advertising and media, and financial services, said it revenue rose 96.2% to RM9.19mil from RM4.68. Earnings per share were 0.33 sen compared with 0.29 sen.
In the nine-months ended Sept 30, 2014, its earnings jumped 465% to RM7.55mil from RM1.33mil in the previous corresponding period. Its revenue increased by 131% to RM37.48mil from RM16.20mil a year ago.
PUC Founder said it acquired RMA, a unit of Resource Holding Management Ltd, for RM90mil via the issuance of 750m million new shares at an issue price of 12 sen each.
Following the consolidation which has put the group on a stronger footing to expand its core business, PUC Founder said it was optimistic about the prospects of the group and “expects the group's financial performance to continue to be positive for the remaining months of the financial year ending Dec 31, 2014”.
Under its corporate exercise, it will distribute bonus share and free warrants to its shareholders on the basis of one bonus share and one free warrant for every seven existing shares. The ex-date is Dec 23 and the entitlement date Dec 26.
Under the company’s shift into the green energy industry, Ausscar Group Sdn Bhd and RedHot Media Group Sdn Bhd have changed their names to MaxGreen Energy Sdn Bhd and Founder Energy Sdn Bhd respectively.
PUC Founder’s share price has surged 39.3% from 14 sen on May 28 to 19.5 sen on Nov 28.
“This market price movement showed investors’ confidence toward the enlarged PUC Founder Group,” it said.