IOI share price unchanged on strong Q4 results

PETALING JAYA: IOI Corp Bhd's share price remained unchanged this morning after its net profit for the second quarter ended Dec 31,2017 jumped 38-fold to RM595.9 million from RM15.6 million a year ago, due to significant forex translation gains amounting to RM196.4 million as opposed to forex losses of RM330 million in the preceding year's corresponding quarter.
As at 10.56am, IOI’s share price stood at RM4.79 with 711,600 shares changing hands.
The group's revenue fell 4.3% to RM2.4 billion in the quarter under review from RM2.51 billion in the quarter ended December 31, 2016.
As for the first two quarters of the financial year, its net profit also surged almost eight times to RM955.9 million from RM120.4 million reported for the same period last year, while revenue for the cumulative period of six months declined 4.8% from RM4.8 billion to RM4.6 billion.