MCT jumps 12.58% as 4Q earnings soar

KUALA LUMPUR (Aug 7): Shares in MCT Bhd jumped 12.58% this morning after its net profit jumped 69.7% to RM30.71 million in the fourth financial quarter ended June 30, 2018 (4QFY18) from RM18.1 million a year ago, mainly due to a one-off gain on disposal of its subsidiary Ecity Hotel Sdn Bhd.

At 9.31am, MCT rose 9.5 sen to 85 sen with 42,300 shares done.

This resulted in a higher earnings per share of 2.11 sen for 4QFY18, from 1.36 sen for 4QFY17.

Quarterly revenue also rose 9.4% to RM184.63 million, from RM168.78 million in 4QFY17, mainly driven by Lakefront @ Cyberjaya, Skypark @ Cyberjaya and Cybersouth, which have varying stages of completion and take-up rates due to launch schedules.

For the full FY18, MCT said net profit rose 23% to RM78.33 million from RM63.66 million in FY17. Revenue, however, came in 23.6% lower at RM450.3 million compared with RM589.71 million in the previous year. — theedgemarkets.com

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