Crescendo up 7% on dividend, 4Q net profit increase

KUALA LUMPUR (March 31): Crescendo Corp Bhd climbed as much as 12 sen or 7% after the property developer said fourth quarter net profit rose 262% from a year earlier and declared a dividend of three sen a share.

At 10:46am, Crescendo shares rose to their highest so far today at RM1.74 with 325,300 units traded. Crescendo was Bursa Malaysia's sixth-largest gainer.

Yesterday, Crescendo said net profit rose to RM11.46 million in the fourth quarter ended Jan 31, 2017 from RM3.17 million a year earlier. Full-year net profit was higher at RM70.31 million versus RM17.69 million a year earlier.

Crescendo said its proposed dividend of three sen a share would bring full-year dividends to five sen. The company said the three sen dividend's ex- and payment dates fall on Aug 9 and 29 this year respectively. — theedgemarkets.com

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