Wednesday, November 23, 2011

Mudajaya rises on firmer 3Q earnings

KUALA LUMPUR (Nov 23): MUDAJAYA GROUP BHD [] shares rose on Wednesday after its third quarter net profit jumped 76% to RM63 million from RM46.54 million, aided by a currency translation gain of RM19.39 million compared with loss of RM14.95 million a year ago.

At 9.15am, Mudajaya rose seven sen to RM2.22 with 21,500 shares traded.

The company said on Tuesday its revenue increased at the same pace, up 76.4% to RM337.21 million from RM191.15 million.

For the nine-month period, its earnings showed an increase of 8.7% to RM164.54 million from the RM151.36 million in the previous corresponding period. Revenue rose 43.3% to RM916.39 million from RM639.14 million.

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