MMC Corp rises 2.05% on strong 3Q earnings

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KUALA LUMPUR (Nov 27): Shares in MMC Corp Bhd rose 2.05% this morning after its net profit climbed 70.3% to RM66.34 million in 3QFY19, from RM38.94 million last year, on higher work progress from Klang Valley Mass Rapid Transit Sungai Buloh-Serdang-Putrajaya (KVMRT-SSP) Line, as revenue grew 32% to RM1.25 billion from RM944.08 million.

At 9.30am, MMC gained 2 sen to 99 sen, for a market capitalisation of RM3.03 billion.

For its nine-month period, net profit rose 86.4% to RM187.08 million from RM100.37 million last year, while revenue grew 5.7% to RM3.62 billion from RM3.42 billion.