KUALA LUMPUR (May 24): Harrisons Holdings (M) Bhd's net profit rose 10.5% in its first quarter ended March 31, 2017 (1QFY17) to RM6.35 million or 9.27 sen a share, from RM5.74 million or 8.39 sen a share in the same period last year.

The results came amid higher turnover, lower finance cost and sale of marketable securities, all of which negated losses in its other non-core operations, Harrisons said in a filing with Bursa Malaysia.

Revenue in the quarter under review climbed nearly 4% to RM429.22 million, from RM412.78 million a year ago, on the back of higher sale of consumer goods, which negated the decline in cement sales.

"Sales are expected to grow modestly, supported by our comprehensive exclusive marketing and warehouse network in East Malaysia," Harrisons said on its FY17 prospects. The company will invest in new IT systems to improve operations, it added.

As at 5pm, shares of Harrisons closed three sen higher at RM4.15, giving it a market capitalisation of RM284.18 million. Year to date, the counter has gained 41%.