Frontken gains 2.29% on firm 1Q earnings

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KUALA LUMPUR (April 24): Shares in Frontken Corp Bhd rose 2.29% this morning after its net profit more than doubled to RM15.4 million in its first quarter ended March 31, 2019 from RM6.3 million a year ago, on the back of improved revenue and foreign exchange gain.

At 9.10am, Frontken added 3 sen to RM1.34 with 1.42 million shares done.

Earnings per share grew to 1.47 sen from 0.6 sen in the previous year's corresponding quarter.

Revenue for the quarter rose 18.2% to RM83.83 million from RM70.92 million a year ago. This was supported by higher contributions from its subsidiaries in Malaysia, Singapore, Taiwan and Philippines, particularly in its semiconductor as well and oil and gas businesses, Frontken said.