MMC Corp shares fall 2% after Q4 results disappoint
28 Feb 2018 / 11:37 H.
PETALING JAYA: Shares of MMC Corp Bhd continued to fall by four sen or 2.08% this morning, after its net profit for the fourth quarter ended Dec 31, 2017 fell 68% to RM85.05 million from RM267.41 million a year ago.
As at 11.01am, the stock stood at RM1.88 with some 70,000 shares changing hands. It has a market capitalisation of RM5.8 billion.
Yesterday, MMC said the lower earnings during the quarter was due to the absence of land sale at Senai Airport City, completion of Sungai Buloh-Kajang MRT Line and higher share of losses from Zelan Bhd.
Nevertheless, the group said it remains positive of its prospects driven by improving performances of its operating companies together with contribution from on-going construction projects.