Thursday, September 22, 2011

ECM Libra 2Q earnings up 189% to RM14.62m

KUALA LUMPUR: ECM Libra Financial Group Bhd's earnings soared 189% to RM14.62 million in the second quarter ended July 31,2011 from RM5.06 million a year ago, contributed by brokerage income, fee income and gains from trading and investment securities.

It said on Thursday, Sept 22, revenue rose 38.64% to RM45.86 million from RM33.08 million. Earnings per share were 1.79 sen compared with 0.62 sen.

The group achieved profit before tax of RM19.7 million compared to RM19.1 million for the preceeding quarter.

'For the current quarter, the group reported a writeback of impairment allowance for bad and doubtful debts of RM5.0 million as compared to RM1.8 million in the last quarter. This increase was partially offset by a lower net interest income of RM8.4 million in the current quarter compared to RM9.7 million in the previous quarter,' it said.

For the first six months ended July 31, 2011, its profit increased by 135.14% to RM28.94 million from RM12.31 million a year ago. Revenue rose 36.25% to RM92.45 million from RM67.86 million.

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