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Hot Stock Tiong Nam gains 3.2% on firmer 3Q earnings

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Hot Stock Tiong Nam gains 3.2% on firmer 3Q earnings

Post by Cals Wed 24 Feb 2016, 03:11

Hot Stock

[size=28]Tiong Nam gains 3.2% on firmer 3Q earnings

By Surin Murugiah / theedgemarkets.com | February 23, 2016 : 9:31 AM MY

KUALA LUMPUR (Feb 23): Tiong Nam Logistics Holdings Bhd shares gained 3.2% this morning after it posted a net profit of RM22.08 million or 5.3 sen a share for the third quarter ended Dec 31, 2015 (3QFY16), a big jump of 137% from RM9.33 million or 2.22 sen a share achieved in the previous corresponding quarter, largely contributed by its logistics and warehouse services, as well as the property development segment.

At 9.13am, Tiong Nam rose 4 sen to RM1.2 with 328,900 shares done.

In a filing with Bursa Malaysia today, Tiong Nam said that revenue for the period was 19.3% higher at RM173.89 million from RM145.7 million a year ago.

"Revenue from logistics and warehousing services division increased 11.8% to RM119.4 million from RM106.8 million in 3QFY15, mainly due to securing of new total logistics customers as well as business expansion from existing customers," the logistics player said in its filing.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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