Crescendo Corp, a Malaysian property developer, rose the most in three months in Kuala Lumpur trading after saying fourth-quarter earnings more than trebled to RM14.3 million.
The stock climbed 3.6 per cent to RM1.46 at 9:07 a.m. local time, set for its biggest gain since Jan. 3. -- Bloomberg
Additional information:
1) Crescendo earnings for FY11 jumped 286% to RM14.3m or EPS of 8.4 sen per share.
2) Dividend announced = 5 sen for 4Q, making full year dividend at 11 sen (vs 7 sen in FY10). This translates into an attractive 7.4% dividend yield based on price of RM1.48...
3) This stock is a laggard among Iskandar stocks, reasons = low liquidity + lack of promotion from stockbrokers. But fundamentally a strong company with long history.
Quoting from the Company's Bursa announcement:
The Group has performed well for the financial year ended 31 January 2011. The revenue increased by 34% to RM215.2 million and the profit before taxation ("PBT") increased substantially by 95% to RM50.9 million as compared to the last financial year.
The higher revenue is mainly contributed from higher sales in construction services and industrial properties. The increase in PBT is contributed by higher sales as well as improved margin especially from industrial properties and construction operation.
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