KUALA LUMPUR (Aug 30): Kimlun Corp Bhd shares rose 3.17% this morning after its net profit rose 36.6% to RM13.45 million in the second quarter ended June 30, 2019, from RM9.85 million a year ago, on higher revenue achieved by the construction and manufacturing and trading (M&T) divisions.

At 9.03am, Kimlun added 4 sen to RM1.30 for a market capitalisation of RM441.77 million.

This resulted in a higher earnings per share of 4.05 sen compared with 3.07 sen previously.

Revenue  increased 49.2% to RM325.17 million from RM217.97 million.

Kimlun said its construction revenue increased 45%, mainly due to higher revenue contribution from the Pan Borneo Highway Sarawak project on higher percentage of completion.

The improvement in M&T revenue by 84.2% was due to higher volume of precast concrete products supplied to the MRT2 project and quarry products supplied to the Pan Borneo Highway Sarawak project.

The improved quarterly performance lifted the group's net profit for the cumulative six months by 30.6% to RM29.38 million from RM22.5 million a year ago, while revenue was up 46.7% to RM643.72 million from RM438.9 million.