OSK Ventures surges 41.9% on solid 2Q earnings

OSK Ventures surges 41.9% on solid 2Q earnings

OSK Ventures surges 41.9% on solid 2Q earnings

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KUALA LUMPUR (Aug 16): OSK Ventures International Bhd’s (OSKVI) shares surged 41.91% at the opeing bell today after its quarterly net profit lept by more than 12 times.

At 9am, OSKVI jumped 28.5 sen to 96.5 sen with 342,700 shares done.

Net profit totaled RM29.54 million for the second quarter ended June 30, 2017, compared with RM2.38 million a year earlier. Earnings per share rose to 14.96 sen, from 1.2 sen in 2QFY16.

The group said higher income and net fair value gain on financial instruments was RM30.08 million, as against RM570,000 previously.

Revenue surged 116.5% to RM26.8 million, from RM12.4 million previously.