Poh Kong shares jump 17.46% after Q4 net profit rises

PETALING JAYA: Shares of Poh Kong Holdings Bhd's this morning rose by 17.46% after the group's net profit for the fourth quarter ended July 31, 2017 jumped more than five times to RM14.32 million from RM2.84 million a year ago.

At 10.43am, the stock climbed to 74 sen with 10.4 million shares changing hands. Its market capitalisation stood at RM303.66 million.

The stock was among the top gainers on Bursa Malaysia this morning.

Poh Kong said the higher net profit during the quarter was mainly due to higher profit from operations as well as lower finance costs.

The group said taxation during the quarter was also lower at RM436,000 compared with RM2.68 million a year ago.

Poh Kong recommended a first and final single tier dividend of one sen per share amounting to RM4.1 million.