Friday 29 Mar 2024
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KUALA LUMPUR (Nov 21): Dagang NeXchange Bhd (DNeX) shares fell 5.41% in active trade this morning after it posted a 55.4% fall in net profit for the third quarter ended Sept 30, 2018 to RM6.65 million from RM14.91 million a year ago.

At 9.31am, DNeX fell 2 sen to 35 sen with 7.85 million shares traded.

DNeX said this comes from lower profit before tax margin of 18% (38% in 2017), mainly due to increasing manpower cost and expenses incurred for business development activities and one-off goodwill impairment of RM3.6 million.

Quarterly revenue, however, was up 27.9% to RM63.31 million, from RM49.5 million previously, the group said in a filing with Bursa Malaysia.

For the cumulative nine-month period, the group recorded net profit of RM35.04 million, up 16.4% from RM41.92 million in the previous corresponding period.

Revenue for the Jan-Sept period jumped 30.3% to RM185.6 million, from RM142.44 million in the previous corresponding period.

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