Friday 29 Mar 2024
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KUALA LUMPUR (Feb 22): Ann Joo Resources Bhd shares jumped 4.35% this morning after it returned to the black in the fourth quarter ended Dec 31, 2016 (4QFY16), posting a net profit of RM45.94 million or 9.18 sen a share against a net loss of RM47.67 million or 9.52 sen a share a year ago, driven by contributions from its manufacturing and trading divisions.

At 9.14am, Ann Joo rose 11 sen to RM2.64 with 1.09 million shares traded.

Quarterly revenue rose 14.2% to RM472.14 million, from RM413.54 million in 4QFY15.

The steel maker declared a final dividend of nine sen per share for the financial year ended Dec 31, 2016 (FY16), payable on May 19.

The improved fourth-quarter results led to a full-year net profit of RM166.78 million or 33.32 sen per share, compared with a net loss of RM135.48 million or 27.06 sen loss per share in FY15.

Revenue for FY16 also increased 6.2% to RM1.87 billion, from RM1.76 billion in FY15, on improved cost structure and effective business strategies execution.

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