Wednesday, June 23, 2010

Ingress up after net profit jump

KUALA LUMPUR: INGRESS CORPORATION BHD [] share price rose Wednesday, June 23 after the company on Tuesday said, net profit jumped to RM10.47 million in the first quarter ended April 30 from only RM587,000 a year ago.

The company also announced revenue was RM180.41 million versus RM151.67 million. At 9.20am, Ingress added 7.5 sen to 64.5 sen with 313,000 shares traded.

Ingress said the better performance was underpinned by the automotive division which recorded revenue of RM161.7 million and profit before tax of RM11 million compared with revenue of RM126.3 million and pre-tax profit of RM2.4 million a year ago.

When compared with the previous quarter, the group recorded a 10% increase in revenue with a profit before tax of RM15.3 million against the immediate preceding quarter profit before tax of RM4.5 million.

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