BAuto share price up on strong Q4 earnings

PETALING JAYA: Bermaz Auto Bhd's (BAuto) share price rose 2.15% this morning after its net profit for the fourth quarter ended April 30, 2018 more than doubled to RM57.19 million from RM22.21 million a year ago, largely due to higher revenue recorded by the domestic operations, improvement in gross profit margin as a result of the strengthening of the ringgit against Japanese yen and higher share of profit contribution from its associate company, Mazda Malaysia Sdn Bhd.
At 11.16am, BAuto was trading at RM2.38 with 3.95 million shares changing hands.
Its revenue jumped 61.2% to RM570.59 million compared with RM354.03 million in the previous year's corresponding quarter.
The group has also recommended a fourth interim dividend of 2.3 sen per share and a special dividend of 2.7 sen per share for the quarter under review.