Malton rises 3.96% on solid 1Q earnings

KUALA LUMPUR (Nov 21): Shares in Malton Bhd rose 3.96% this morning after the property developer saw its net profit surge four times to RM25.93 million for the first financial quarter ended Sept 30, 2017 (1QFY18), from RM6.26 million a year ago, after recognising a gain of RM23.8 million from a subsidiary due to the revocation of a joint development agreement.

At 9.05am, Malton rose 4 sen to RM1.05 with 420,800 shares traded.

Quarterly revenue, however, slid 4% y-o-y to RM125.12 million from RM130.04 million. — theedgemarkets.com

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