Kobay jumps 20.48% after reporting surge in 2Q earnings

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KUALA LUMPUR (Feb 26): Kobay Technology Bhd shares jumped 20.48% this morning after reporting a surge in its second quarter earnings.

At 9.35am, Kobay jumped 17 sen to RM1 with 243,300 shares done.

For the second quarter ended Dec 31, 2017, Kobay's net profit surged to RM4.55 million from RM730,000 a year earlier, driven mainly by an increase in revenue from the manufacturing segment, according to a Bursa Malaysia filing.

Revenue for the quarter jumped to RM41.32 million from RM28.36 million a year earlier.

Earnings per share rose to 4.45 sen from 0.72 sen.

For the six months ended Dec 31, Kobay's net profit rose to RM6.58 million from RM1.42 million a year earlier, on the back of revenue of RM75.13 million from RM55.72 million previously.