Gunung Capital returns to the black in Q4 on disposal gains

PETALING JAYA: Gunung Capital Bhd returned to the black in the fourth quarter ended Dec 31, 2017 on gains from the hydropower division with the disposal of an associate for RM0.5 million, and an indirect associate of RM5.6 million (comprising of 25% equity stake in Kerian Energy Sdn Bhd).
The company, which provides bus transportation for the National Service programme and builds mini hydroelectric power plants, made a net profit of RM1.0 million for the quarter under review, compared with a net loss of RM1.7 million. Operationally the company posted a loss of RM598,000.
This was on largely flat revenue of RM9.1 million for the quarter ended Dec 31, 2017.
The company however posted a wider net loss of RM2.9 million for the 12 month period, compared with a net loss of RM1.7 million for the same period in 2016.
This was on marginally higher revenue of RM40.3 million for the financial year 2017, compared with RM39.6 million revenue for the financial year 2016.
The company's share price last traded at 39.5 sen.