28 Nov 14 – Press Release – PUC Founder Third Quarter Net Profit Tenfold
PUC FOUNDER THIRD QUARTER NET PROFIT TENFOLD
KUALA LUMPUR (Nov 28): PUC Founder (MSC) Berhad (“Founder”) announced its third quarter result of financial year 2014 yesterday. Founder posted a higher quarterly profit of RM2.8 million in the third financial quarter ended 30 September 2014, ten times the quarterly profit, which was RM280,000 as posted in the previous corresponding quarter.
Founder recorded a total revenue of RM37.5 million, an increased of 131% and a profit before tax of RM8.0 million, which marks an increased of 344% for the current year to date as compared with its revenue of RM16.2 million and profit before tax of RM1.8 million in the preceding corresponding period.
In a filing with Bursa Malaysia yesterday, Founder said the higher revenue and profit before tax for the quarterly result is mainly due to the consolidation of financial results of the enlarged Group after the completion of acquisition of RMA.
Founder is going to distribute bonus share and free warrants to its shareholders on the basis of one (1) bonus share and one (1) free warrant for every seven (7) existing Founder shares. The ex-date of these exercises is 23 December 2014 while the entitlement date is 26 December 2014.
On its outlook, Founder is optimistic on the prospects of the Group and expects the Group’s financial performance to continue to be positive for the remaining months of the financial year ending 31 December 2014. According to the announcements in Bursa on 17 November 2014 and 23 September 2014 respectively, two wholly-owned subsidiaries of the company, Ausscar Group Sdn Bhd and RedHot Media Group Sdn Bhd have changed name to MaxGreen Energy Sdn Bhd and Founder Energy Sdn Bhd respectively. This shows the company’s approach towards green energy industry.
Founder’s share price has increased significantly by 39.3% from 14 sen (closing price on 28th May 2014) to 19.5 sen (closing price on 27 November 2014), for a period of 6 months. This market price movement showed investors’ confidence toward the enlarged PUC Founder Group.
Issued By: Management of PUC Founder (MSC) Berhad