Thursday, October 20, 2011

Hua Yang rises on strong 2Q earnings

KUALA LUMPUR: HUA YANG BHD [] shares advanced on Thursday, Oct 20 after the company's net profit for the second quarter ended Sept 30, 2011 surged to RM13.89 million from RM4.31 million a year earlier, due mainly to steady CONSTRUCTION [] progress and better sales.

At 9.20am, Hua Yang added four sen to RM1.64 with 670,800 shares traded.

Its revenue for the quarter more than doubled to RM76.13 million from RM35.63 million in 2010.

Reviewing its performance, Hua Yang said the sales achieved during the quarter under revised was 119% higher year-on-year with total unbilled sales of RM395.24 million, giving it improved earnings visibility in the remaining period of FY2012.

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