WCT up 3.8% on firm 4Q earnings

KUALA LUMPUR (Feb 27): WCT Holdings Bhd shares rose 3.8% this morning after its net profit soared nearly 17 times to RM59.27 million in its fourth quarter from RM3.51 million a year ago, thanks to stronger revenue and its other income which surged about six-fold.

At 9.26am, WCT rose 6 sen to RM1.64 with 699,300 shares done.

Revenue for the quarter ended Dec 31, 2017 (4QFY17) grew 28% y-o-y to RM579.4 million from RM453.17 million. Other income jumped to RM248.67 million from RM42.38 million last year.

It proposed a final single-tier dividend of 3 sen per share in respect of FY17 compared to a total of 1.25 sen in FY16.

For its full FY17, WCT's net profit jumped 126% to RM154.62 million from RM68.38 million a year ago, though revenue slipped 1% to RM1.91 billion from RM1.93 billion. — theedgemarkets.com

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