Gadang up 2.48% on better 1Q earnings

KUALA LUMPUR (Oct 26): Gadang Holdings Bhd shares rose 2.48% in early trade today after its net profit rose 9.8% to RM18.3 million in the first financial quarter ended Aug 31, 2017, from RM16.7 million a year ago, driven mainly by its construction division. Earnings per share rose to 2.79 sen from 2.58 sen.

At 9.18am, Gadang added 3 sen to RM1.24 with 819,800 shares done.

Quarterly revenue  grew 12.4% to RM116.7 million from RM103.9 million.

The construction division's quarterly revenue increased to RM76.8 million from RM42.1 million previously. — theedgemarkets.com

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