Monday, December 12, 2011

SYF Resources active, up on positive 1Q results

KUALA LUMPUR (Dec 12): SYF RESOURCES BHD [] shares rose in active trade on Monday after the company's first quarter financial results showed a significant improvementg after regularising its financial condition.

At 10.50am, SYF rose 1.5 sen to 71 sen with 11.9 million shares done while its warrants added 1.5 sen to 55 sen with 10.76 million units traded.

SYF recorded net profit of RM39.24 million in the first quarter ended Oct 31, 2011 when compared with net loss of RM581,000 a year ago after the waiver of debts and overprovision of interest.

Its revenue for the quarter rose to RM42.98 million from RM40.44 million in 2010, while earnings per share was 43.37 sen from loss per share of 0.69 sen.

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