PETALING JAYA: Kossan Rubber Industries Bhd’s shares jumped 2.75% or 11 sen this morning, after its net profit for the fourth quarter ended Dec 31, 2018 rose 29.6% to RM59.51 milllion.
At 11.40am, the stock stood at RM4.11 with 1.65 million shares changing hands, bringing its market capitalisation to RM5.27 billion.
The group told the stock exchange yesterday that the higher profit was due to improved performance in all three of the group’s divisions.
During the period, the group saw revenue rise 23.36% to RM589.37 million from a year ago, also due to improved performance in the glove, technical rubber products and cleanroom divisions.
