Muar Ban Lee's share price rise on higher profits

PETALING JAYA: Muar Ban Lee Group Bhd’s share price rose 0.75% this morning after announcing improved earnings for the third quarter ended Sept 30, 2017.
At 11.05am, its share price rose 1 sen or 0.75% to RM1.34 with a total of 46,800 shares traded. The stock closed unchanged at RM1.33 with a total of 557,200 shares traded yesterday.
For the quarter under review, the group registered a 33.98% rise in net profit to RM3.33 million from RM2.49 million a year ago due to better profits in the manufacturing as well as trading and services divisions.
It said that the manufacturing division registered a higher profit of RM3.85 million from RM2.22 million a year ago, driven by higher project sales and better products mix.
The trading and services division recorded an improved profit of RM30,000 due to the income recognised to the extent of the completed project works.
Revenue for the quarter fell 7.63% to RM49.51 million from RM53.60 million a year ago, due to a 29.8% drop in the manufacturing division’s revenue to RM23.93 million from RM34.09 million a year ago.
For the nine months ended Sept 30, 2017 net profit rose 8.92% to RM8.67 million from RM7.96 million a year ago, while revenue rose 13.02% to RM143.00 million from RM126.52 million a year ago.