KUALA LUMPUR (Aug 17): KNM Holdings Bhd’s shares, which soared yesterday following the release of its latest financial results, jumped again Friday morning in active trade.
At 9.32am, KNM – the second most active stock – rose 5.5 sen or 7.8% to 76 sen on trades of 21.66 million shares.
Yesterday, KNM closed at 70.5 sen after surging 13.5 sen or 23.7% on total trades of 47.055 million. The stock, which has always been a favoured retail play, registered a high of RM1.63 and a low of 56 sen in the past 52 weeks.
The company on Thursday afternoon reported it had achieved higher revenue of RM1.17 billion, EBITDA of RM109.89 million and net profit of RM68.89 million for the six months ended 30 June 2012.
Revenue for the six months to end-June 2011 stood at RM957.3 million and profit after tax at RM29.87 million. This means revenue for the first half of 2012 rose 22.5% and profit surged by 130.6%.
But for the current quarter (April-June 2012) under review, KNM’s profit before taxation and minority interest of RM21.74 million improved by RM5.78 million, as compared to first quarter profit before taxation and minority interest of RM15.96 million.
On future prospects, KNM said existing strong order book means that financial performance of the group “will remain positive”.