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Tajuk : Hengyuan jumps 6.40% on solid 1Q earnings
link : Hengyuan jumps 6.40% on solid 1Q earnings
Hengyuan jumps 6.40% on solid 1Q earnings
KUALA LUMPUR (May 25): Hengyuan Refining Co Bhd shares jumped 6.40% this morning after its net profit for the first quarter ended March 31, 2017 (1QFY17) nearly tripled to RM264.33 million from RM101.65 million a year ago, mainly from improved gross profit margin, as well as a net gain on foreign currency exposure, with lower administrative expenses.
At 9.18am, Hengyuan rose 34 sen to RM%.65 with 1.94 million shares done.
Quarterly revenue rose 56% to RM2.9 billion in 1QFY17 from RM1.9 billion a year ago, following recovery in crude oil prices.
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