Trading in shares of LBS Bina, NWP to be suspended today pending material announcements

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KUALA LUMPUR (Mar 5): Trading in the shares of LBS Bina Group Bhd and NWP Holdings Bhd will be suspended today, pending release of their respective material announcements.

Bursa Malaysia Securities approved the request for the 9am-5pm suspension, both companies said in separate filings with the stock exchange today. 

Property developer LBS Bina Group recorded a 13% drop year-on-year in its net profit for the fourth quarter ended Dec 31, 2017 (4QFY17), mainly on lower interest income and higher finance costs, while other income fell as the previous corresponding quarter had registered a one-off government grant. 

Net profit for 4QFY17 was down at RM24.32 million from RM27.83 million a year earlier, causing earnings per share to be trimmed to 3.64 sen from 4.72 sen. Revenue, however, grew 26% y-o-y to RM406.72 million, from RM322.27 million.

For its full year, net profit rose 21% y-o-y to RM103.4 million from RM85.3 million, as revenue grew 37% y-o-y to RM1.36 billion from RM993.62 million

Meanwhile, timber manufacturer NWP Holdings widened its loss in its first financial quarter ended Nov 30, 2017 (1QFY18) to RM1.01 million, from a loss of RM809,000 in the previous corresponding quarter, following a fall in revenue. 

Its revenue almost halved to RM2.72 million from RM4.63 million in the previous corresponding quarter. 

The group said decrease in the revenue for the quarter was due to lower demand from the China market for timber-related products.