Wednesday, September 28, 2011

George Kent edges up in early trade

KUALA LUMPUR: George Kent Holdings Bhd shares edged up in early trade on Wednesday, Sept 28 after the company said it was targeting to increase its tender book to several billion ringgit for its infrastructure, water and CONSTRUCTION [] businesses division.

At 9.10am, George Kent was up five sen to RM1.09 with 3,000 shares traded.

Its chairman Tan Sri Tan Kay Hock said the projects it was pursuing were mainly in water and waste water related industry, healthcare and potential specialised M&E engineering works in other sectors.

George Kent's 2Q earnings rose 11.9% to RM5.64 million for the second quarter ended July31, 2011 from RM5.04 million a year ago due to higher profit contribution from project related works and higher sale of water meters.

Revenue rose 6.2% to RM41.35 million from RM38.91 million. Earnings per share were 2.5 sen compared with 2.2 sen. It declared a dividend of 2.0 sen per share.

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