KUALA LUMPUR: Shares of MALAYSIA BUILDING SOCIETY BHD [] (MBSB) advanced in early trqade on Wednesday, Feb 16 after it posted a strong set of earnings in its financial year ended Dec 31, 2010, with net profit surging 155% to RM146.02 million.
At 9.15am, it was up eight sen to RM1.56 with 420,100 shares done.
However, the FBM KLCI fell 8.49 points to 1,496.84. Turnover was 162.98 million shares valued at RM120.22 million. There were 90 gainers, 223 losers and 167 stocks unchanged.
MBSB staged a turnaround as it focused on retail products. Revenue rose 43% to RM769.94 million in FY10 from RM537.96 million in FY09.
For the fourth quarter ended Dec 31, 2010, it recorded net profit of RM12.81 million, a contrast from the net loss of RM9.71 million a year ago. Its revenue climbed 31.5% to RM208.91 million from RM158.79 million. Earnings per share were 1.83 sen compared with loss per share of 1.39 sen.
MBSB also proposed a corporate exercise involving a a renounceable rights issue of new shares together with new free detachable warrants to raise gross proceeds of approximately RM500 million. Its paid-up was 700.29 million shares.
At 9.15am, it was up eight sen to RM1.56 with 420,100 shares done.
However, the FBM KLCI fell 8.49 points to 1,496.84. Turnover was 162.98 million shares valued at RM120.22 million. There were 90 gainers, 223 losers and 167 stocks unchanged.
MBSB staged a turnaround as it focused on retail products. Revenue rose 43% to RM769.94 million in FY10 from RM537.96 million in FY09.
For the fourth quarter ended Dec 31, 2010, it recorded net profit of RM12.81 million, a contrast from the net loss of RM9.71 million a year ago. Its revenue climbed 31.5% to RM208.91 million from RM158.79 million. Earnings per share were 1.83 sen compared with loss per share of 1.39 sen.
MBSB also proposed a corporate exercise involving a a renounceable rights issue of new shares together with new free detachable warrants to raise gross proceeds of approximately RM500 million. Its paid-up was 700.29 million shares.
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