Wednesday, August 4, 2010

Ann Joo up on higher revenue

KUALA LUMPUR: ANN JOO RESOURCES BHD []'s share price rose on Wednesday, Aug 4 after its net profit surged over 30 times to RM70.9 million in its second quarter ended June 30, 2010 (2QFY10) from RM2.2 million a year earlier due to a continuous improvement in productivity coupled with higher export tonnage.

At 9.25am, Ann Joo was up 14 sen to RM2.69 with 207,100 shares done.

The company's 2QFY10 revenue rose 40% to RM595.4 million''from RM424.30 million, while basic earnings per share (EPS) rose to 14.11 sen from 0.44 sen.

For the six month period ended June 30, 2010, Ann Joo registered a net profit of RM112.4 million compared to a net loss of RM36.7 million a year ago. Its revenue ballooned to 66% to RM 1.07 billion compared to the revenue of RM 644.43 million for the first half of year 2009.

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