Wednesday, August 3, 2011

MBSB active, up in early trade

KUALA LUMPUR: Malaysian Building Society Bhd (MBSB) was among the actively traded counters on Wednesday, Aug 3 after it posted net profit of RM78.25 million for the second quarter ended June 30, 2011, up 58% from the RM49.51 million a year ago.

At 9.20am, MBSB was up two sen to RM1.58 with 1.84 million shares done.

It declared an interim cash dividend of 5% less 25% income tax.

MBSB said the increase in profit was mainly due to higher income from Islamic banking operations and conventional business net interest income, lower other operating expenses and lower impairment allowances on loans. These were partially set off by lower other income in the current quarter.

Revenue increased by 80.8% to RM318.56 million from RM176.13 million.


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