Friday 29 Mar 2024
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KUALA LUMPUR (Aug 9): Malaysia Smelting Corp Bhd (MSC) shares rose 2.38% this morning after its net profit tripled year-on-year to RM7.48 million or 1.9 sen per share in the second quarter ended June 30, 2019 (2QFY19) from RM2.46 million or 0.6 sen per share a year ago. The better earnings were due mainly to higher profit generated by the tin mining segment.

At 9.08am, MSC rose 2 sen to 86 sen for a market capitalisation of RM344 million.

However, its quarterly revenue came in 11.5% lower at RM289.08 million against RM326.82 million in 2QFY18, as a result of lower sales volume of refined tin.

MSC’s improved 2Q earnings brought its net profit for the first half of FY19 to RM16.09 million, more than double compared with RM7.04 million in the previous corresponding period. Revenue for the period stood 12.8% lower at RM596.53 million compared with RM683.77 million before.

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