Friday 29 Mar 2024
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KUALA LUMPUR (Nov 15): Malaysia Smelting Corp Bhd (MSC) shares rose 4.11% in thin trade this morning after its net profit jumped 52.5% to RM11.66 million in 3QFY18 from RM7.65 million a year ago on stronger earnings from both its tin smelting and tin mining divisions.

At 9.13am, MSC rose 3 sen to 76 sen with 25,000 shares done.

Quarterly revenue, however, fell 23.2% to RM309.43 million from RM403.17 million in 3QFY17, due to slower sales of refined tin and less favourable tin prices in 3QFY18.

MSC said its tin smelting business achieved a turnaround in 3QFY18 boosted by certain one-off income, such as reversal of impairment losses, gain on disposal of joint venture, lead sales and higher other income.

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