KUALA LUMPUR (Aug 21): Shares in MBM Resources Bhd jumped 10.63% this morning after its net profit more than doubled to RM74.04 million in the second quarter ended June 30, 2019 (2QFY19), from RM34.55 million a year ago, mainly lifted by a one-off RM24.8 million gain on disposals. Revenue was up 15.42% to RM558.05 million, from RM483.48 million.

At 9.18am, MBM Resources rose 39 sen to RM4.06 for a market capitalisation of RM1.59 billion.

MBM Resources declared a first interim dividend of six sen per share, payable on Sept 19.

For the cumulative first half of the year (1HFY19), the group saw its net profit grow 83.62% to RM123.69 million, from RM67. 36 million in the same period last year. Revenue rose 15.15% to RM1.08 billion, from RM935.41 million.