KKB Engineering rises 9.3% on higher 3Q earnings

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KUALA LUMPUR (Nov 14): KKB Engineering Bhd, which has climbed some 74% year to date, rose 9.29% this morning after announcing improved results in its third quarter.

At 11.30am, the stock was amongst the top gainers, having risen 13 sen to RM1.53, with 1.62 million shares done, higher than its 200-day average volume of 238,427.

Yesterday, the group said net profit grew 2.8 times to RM19.34 million for the third quarter ended Sept 30, 2019 (3QFY19) from RM6.93 million last year.

It said this was due to higher revenue from its steel fabrication and construction divisions, coupled with improved margins in the engineering sector.

Quarterly revenue was up 47.5% to RM165.48 million from RM112.18 million in 3QFY18.

For the nine-month period, net profit soared 179% to RM28.05 million from RM10.04 million a year ago, while revenue increased 49.3% to RM403 million from RM269.94 million.