Hua Yang dips 3.23% as 1Q earnings fall 45%

KUALA LUMPUR (July 19): Shares of property developer Hua Yang Bhd dipped 3.23% this morning after its net profit declined 45.5% to RM1.01 million or 0.29 sen per share in its first quarter ended June 30, 2018, from RM1.86 million or 0.53 sen per share a year ago, owing to higher finance costs.

At 9.14am, Hua Yang fell 1.5 sen to 45 sen with 93.500 shares traded.

Hua Yang recorded higher income tax expense of RM2.42 million for the quarter compared with RM1.14 million last year.

Quarterly revenue, however, rose 41.4% to RM66.54 million in the quarter, from RM47.05 million before. — theedgemarkets.com

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