O&C Resources up 2.86% on strong 1Q earnings

KUALA LUMPUR (Dec 14): O&C Resources Bhd (OCR) shares 3.81% in early trade this morning after it announced a rise of 269% in net profit for its first quarter ended Oct 31, 2017 (1QFY18) to RM1.06 million, from RM288,000 a year earlier, thanks to increased profits from both the construction and property development divisions.

At 9.04am, OCR added 1.5 sen to 54 sen with 156,900 shares done.

Quarterly revenue surged 80% to RM21.52 million from RM11.96 million, mainly due to an increase in progressive recognition of revenue from the property development segment. — theedgemarkets.com

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