Atlan shares up despite lower Q3 earnings

PETALING JAYA: Atlan Holdings Bhd’s up two sen or 0.47% at noon break, although its earnings plunged 90.3% to RM1.61 million in the third quarter ended Nov 30, 2017 (Q3’FY18).

At 12.30pm, the stock stood at RM4.30 on some 10,500 shares changing hands, giving it a market capitalisation of RM1.09 billion.

Yesterday, the property investment, hospitality and auto-components company said the lower earnings was mainly due to lower profit and foreign exchange losses of RM7.3 million.

The company made a net profit of RM16.68 million in the previous year’s corresponding quarter. Its revenue for the quarter increased by 2.4% to RM186 million, compared with RM181.6 million previously.

Atlan has declared a third interim single tier ordinary dividend of 10 sen per share in respect of the ending Feb 28, 2018 amounting to RM25.36 million, which is payable on March 15, 2018.

Source: The Sun Daily

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