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NewsBorneo Oil's 1Q earnings up 20-fold to RM10.7m
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Borneo Oil's 1Q earnings up 20-fold to RM10.7m
by Cals Fri 01 Jul 2016, 01:28
Borneo Oil's 1Q earnings up 20-fold to RM10.7m
By Sangeetha Amarthalingam / theedgemarkets.com | June 30, 2016 : 6:51 PM MYTKUALA LUMPUR (June 30): Borneo Oil Bhd's net profit rose more than 20-fold to RM10.7 million or 0.36 sen per share in its first quarter ended April 30, 2016 (1QFY17) from RM525,000 or 0.14 sen per share a year ago.
The performance was a result of improved performance from both its fast food and franchise, and mining, energy and related divisions, Borneo Oil told Bursa Malaysia in a filing today.
Revenue came in at RM1.5 billion, up 102 times from RM14.6 million in the corresponding period last year.
Borneo Oil said other divisions also performed as expected, in particular the property, management and operation division, which contributed positively to the group.
Moving ahead, with the continuation of the ongoing performance of the group's businesses and the execution of its various plans, the board is optimistic of much better and improved performances in the coming quarters.
It closed half sen or 3.23% lower at 15 sen for a market capitalisation of RM424.7 million.
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