KUALA LUMPUR (Feb 19): Shares in KKB Engineering Bhd rose 7.85% this morning after its net profit surged 2.66 times to RM20.27 million in the fourth quarter ended Dec 31, 2019 from RM7.61 million a year ago, on improved margin on the back of higher revenue registered by both its engineering and manufacturing sectors. Revenue for the quarter also rose 9.5% to RM156.03 million from RM142.54 million a year ago.

At 9.26am, KKB rose 15 sen to RM2.06, valuing it at RM531.05 million.

KKB Engineering recommended a first and final dividend of six sen per share.

The better quarterly performance lifted the group's net profit for the full year up 2.7 times to RM48.31 million, from RM17.64 million in the previous year, while revenue grew 35.5% to RM559.03 million from RM412.48 million.

On prospects, KKB Engineering said demand for steel water pipes is expected to remain firm, buoyed by ongoing and upcoming water-related infrastructure projects planned under the Sarawak Water Supply Grid Programme.