KUALA LUMPUR (Dec 2): LBS Bina Bhd (KL:LBS) surged in early trade on Monday, after the group declared special dividends, subsequent to posting quarterly earnings which were boosted by a one-off disposal gain.
Shares of the developer rose as much as 10% or 5.5 sen to 60 sen just 15 minutes after the opening bell, valuing it at nearly RM950 million, with 5.34 million shares done.
Last Friday (Nov 29), LBS Bina declared a special dividend as its net profit surged four-fold for the third quarter, carried by a one-off gain from the disposal of Lamdeal Investments Ltd (LIL).
Net profit for the quarter ended Sept 30, 2024 (3QFY2024) ballooned 315.43% to RM167.06 million — its highest since 3QFY2013 — from RM40.21 million in the same quarter last year, mainly thanks to booking a RM137 million one-off gain from the disposal of LIL.
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Source: EdgeProp.my
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