Guan Chong up 5.66% on firm 2Q earnings, dividend

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KUALA LUMPUR (Aug 20): Shares in cocoa grinder Guan Chong Bhd gained 5.66% this morning after its net profit rose 42% year-on-year to RM60.1 million or 12.77 sen per share in its second quarter ended June 30, 2019 (2QFY19), thanks to higher sales volume of cocoa products, which pushed revenue up 53% to RM753.06 million.

At 9.27am, Guan Chong added 20 sen to RM3.73 for a market capitalisation of RM1.79 billion.

In contrast, the group posted a net profit of RM43.03 million or 9.01 sen per share in the same period last year, when revenue was RM491.58 million.

The group declared a second interim dividend of 1.5 sen per share, in respect of its FY19, payable on Sept 27, its stock exchange filing today showed.