Thursday, June 24, 2010

BLand surges on earnings growth, corporate exercise

KUALA LUMPUR: BERJAYA LAND BHD []'s share price surged in late morning trade on Thursday, June 24 after it reported a strong set of earnings and announced a corporate exercise.

At 11am, it was up 62 sen to RM4.69 with 269,500 shares done.'' The FBM KLCI was down 2.75 points to 1,326.95.

BLand said net profit was RM72.07 million for the fourth quarter ended April 30, 2010 compared with a net loss of RM49.53 million a year ago. Revenue was RM1.13 billion versus RM971.67 million.

It also proposed a one-into-two share split and bonus issue of up to 2.51 billion new subdivided shares on a one-for-one basis.

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