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NewsHot Stock Poh Huat falls 6% on lower 2Q profit
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Hot Stock Poh Huat falls 6% on lower 2Q profit
by Cals Sat 02 Jul 2016, 03:36
- Hot Stock
[size=28]Poh Huat falls 6% on lower 2Q profit
By Chong Jin Hun / theedgemarkets.com | July 1, 2016 : 10:58 AM MYTKUALA LUMPUR (July 1): Poh Huat Resources Holdings Bhd fell nine sen or 6% after the furniture manufacturer said second quarter net profit fell 14% from a year earlier.
At 10:33am, Poh Huat shares fell to RM1.45 for a market capitalisation of RM328.76 million. The 10th-largest decliner on Bursa Malaysia saw some two million shares traded.
Yesterday (June 30), Poh Huat said net profit fell to RM3.88 million in the second quarter ended April 30, 2016 (2QFY16) from RM4.53 million a year earlier. Revenue rose to RM106.46 million from RM96.16 million.
1HFY16 net profit climbed to RM18.01 million from RM12.71 million a year earlier, while revenue was higher at RM257.52 million compared to RM201.26 million.
The company declared a dividend of two sen a share for the quarter in review.
The ex and payment dates fall on July 15 and 29 respectively.
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