China Ouhua shares rise as it returns to black

PETALING JAYA: China Ouhua Winery Holdings Ltd's shares rose 1.5 sen or 14.3% this morning, as it returned to the black for the fourth quarter ended Dec 31, 2017, registering a net profit of RM2.38 million.
As at 11.46am, the stock stood at 12 sen with 8.36 million shares changing hands. It has a market capitalisation of RM70.14 million.
Yesterday, the group said the earnings was mainly attributed to a reduction in provision for bad debts, inventories impairment and marketing and distribution expenses.
Revenue for the quarter increased slightly by 0.2% to RM3.98 million, compared with RM3.97 million in the same period in 2016.
For the full year, its net loss narrowed to RM1.2 million, against RM23.2 million a year ago, while revenue was up by 2% to RM8.76 million, from RM8.6 million previously.