BCorp active, up 1.49% on higher 2Q earnings

KUALA LUMPUR (Dec 30): Shares in Berjaya Corp Bhd (BCorp) rose 1.49% after its net profit for the second quarter of financial year 2017 increased 44% year-on-year due to improved contribution from its property investment and development business segment.

At 11.40am, BCorp gained half a sen to 34 sen with 10.69 million shares traded.

Its net profit came in at RM176.5 million or 3.27 sen per share for the quarter ended Oct 31, 2016 compared with RM122.25 million or 2.47 sen previously, its bourse filing yesterday showed.

The better performance of its property investment and development business segment was due to the sale at its recently opened Four Seasons Hotel Kyoto in Japan and higher profit recognition from a project in China.

For the cumulative nine months, BCorp's net profit came in 36% lower at RM113.82 million versus RM178.39 million a year ago, though revenue climbed 7% to RM4.68 billion from RM4.39 billion. — theedgemarkets.com