Pantech shares continue to rise on higher Q2 net profit

PETALING JAYA: Pantech Group Holdings Bhd's share price continued to rise by 1.41% this morning, after its net profit in the second quarter (Q2) ended Aug 31, 2017 more than doubled to RM11.75 million from RM5.14 million in the previous corresponding quarter.
As at 10.28am, the stock, which was among the top active counters, stood at 72 sen with 7.59 million shares changing hands. Its market capitalisation stood at RM527.07 million.
Pantech said the better performance was mainly due to the increase in sales demand from both the trading and manufacturing division arising from increased delivery to refinery and petrochemical integrated development project (Rapid) and overseas market.
For the six months period, its net profit jumped 94.4% to RM25.7 million against RM13.2 million a year ago.
The board has approved and declared a second interim single tier dividend of 0.5 sen per ordinary shares for the financial year ending Feb 28, 2018, which will be paid on Jan 19, 2018.