(BAuto) rose in early trade Thursday after posting a 21.8% jump in net profit in the third quarter ended Jan 31.
The Mazda car distributor added 3.7%, or five sen to RM1.40, its highest in two weeks.
BAuto’s net profit rose 21.8% to RM33.08mil for the third quarter ended Jan, 2021 from RM27.15mil in the same period last year.
Revenue also grew 27.9% to RM 597.98mil from RM467.46mil previously.
The group has declared a dividend of 1.50 sen per share for the third quarter.
For the nine months to Jan 31, BAuto posted a net profit of RM67.1mil on revenue of RM1.64bil.
Cover Story: New year, new targets theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (March 5): Maybank Investment Bank Research (Maybank IB Research) said today the worst is over for the property sector as it believes the sector should continue to be driven by a better economic outlook, historically low interest rate environment and pent-up demand.
Its analyst Wong Wei Sum said in a note that despite the reimposition of Conditional Movement Control Order (CMCO) and Movement Control Order (MCO) in the fourth quarter of 2020 (4Q20) to 1Q21, property sales continued to recover from the impact of the coronavirus pandemic. Judging from the sales momentum in early 2021, most developers expect a better sales outlook in FY21 though it may be coming at the expense of lower margins on lower pricing, she added.
Mr DIY going against the grain theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.