Poh Kong jumps 8.33% on firmer 2Q earnings

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KUALA LUMPUR (March 15): Poh Kong Holdings Bhd shares jumped 8.33% this morning after its second quarter net profit grew 40.4% to RM6.75 million, from RM4.81 million a year earlier, thanks to higher gold prices.

At 9.26am, Poh Kong rose 4 sen to 52 sen with 506,700 shares done.

Quarterly revenue was up 1.46% to RM273.91 million, from RM269.98 million a year ago, mainly due to the increase in demand for gold jewellery, aided by higher retail gold prices.