KUALA LUMPUR: Shares of GUAN CHONG BHD [] advanced in afternoon trade on Monday, Jan 31 after the confectionery manufacturer posted a set of stellar results in the fourth quarter ended Dec 31, 2010.
At 3.12pm, the shares rose 11 sen to RM2.92 with 509,900 shares done.
The FBM KLCI was just down 1.58 points to 1,520.31 on some fund buying after the index skidded to a low of 1,505.85 in early trade.
The company said its fourth quarter earnings surged 540% to RM42.91 million from RM6.67 million a year ago on higher revenue, net gains from a stronger ringgit and commodity futures contracts.
The company said on Monday, Jan 31 revenue rose 52.5% to RM332.31 million from RM217.81 million while earnings per share were 17.88 sen compared with 2.78 sen a year ago. It proposed a dividend of 5.25 sen a share.
'The increase of 52.57% in turnover is mainly due to higher sales volume and market price of cocoa products. The profit before tax for the period ended Dec 31, 2010 increased substantially to RM 32.19 million.
At 3.12pm, the shares rose 11 sen to RM2.92 with 509,900 shares done.
The FBM KLCI was just down 1.58 points to 1,520.31 on some fund buying after the index skidded to a low of 1,505.85 in early trade.
The company said its fourth quarter earnings surged 540% to RM42.91 million from RM6.67 million a year ago on higher revenue, net gains from a stronger ringgit and commodity futures contracts.
The company said on Monday, Jan 31 revenue rose 52.5% to RM332.31 million from RM217.81 million while earnings per share were 17.88 sen compared with 2.78 sen a year ago. It proposed a dividend of 5.25 sen a share.
'The increase of 52.57% in turnover is mainly due to higher sales volume and market price of cocoa products. The profit before tax for the period ended Dec 31, 2010 increased substantially to RM 32.19 million.
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