KUALA LUMPUR: INGRESS CORPORATION BHD []'s shares advanced on Thursday, March 24 after its net profit for the financial year ended Jan 31 jumped to RM17.13 million from RM10.81 million, on the back of revenue RM761.48 million.
At 10.30am, Ingress was up two sen to 75 sen with 154,200 shares traded.
The company's net profit for the fourth quarter ended Jan 31, 2011 fell 18.1% to RM2.11 million from RM2.57 million a year ago, arising mainly from losses from its power engineering and projects division (PEP).
Reviewing its performance yesterday, Ingress had said improvement in its revenue was mainly due from the automotive division, with 25% revenue increase supported by 14% revenue improvement for both ACM Thailand and ACM Indonesia.
On its prospects, Ingress said it expects the automotive division to further improve in the coming years on the prospect of improving in the Asian region.
'We also expect PEP Division to improve given the existing and recently awarded projects and the government initiatives under the transformation programme,' it said.
At 10.30am, Ingress was up two sen to 75 sen with 154,200 shares traded.
The company's net profit for the fourth quarter ended Jan 31, 2011 fell 18.1% to RM2.11 million from RM2.57 million a year ago, arising mainly from losses from its power engineering and projects division (PEP).
Reviewing its performance yesterday, Ingress had said improvement in its revenue was mainly due from the automotive division, with 25% revenue increase supported by 14% revenue improvement for both ACM Thailand and ACM Indonesia.
On its prospects, Ingress said it expects the automotive division to further improve in the coming years on the prospect of improving in the Asian region.
'We also expect PEP Division to improve given the existing and recently awarded projects and the government initiatives under the transformation programme,' it said.
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