KUALA LUMPUR (Oct 24): Property development and construction service provider Ibraco Bhd has declared a first interim dividend of 3.5 sen per share for its financial year ending Dec 31, 2016. In its filing to Bursa Malaysia today, the property developer said the ex-date for the dividend is Nov 7. In its latest quarter ending June 30, 2016 (2QFY16), Ibraco posted a 48.6% year-on-year rise in net profit at RM11.36 million from RM7.64 million, while revenue improved 16.4% to RM60.69 million from RM52.15 million. In the first six months of FY16, Ibraco's net profit was 6.9% higher at RM19.45 million, though revenue slipped 8.8% to RM99.69 million. At the reopening of the market after the noon break, Ibraco's share price was up 2.1% at 98 sen, giving it a market capitalisation of RM486.5 million.

Source: The Edge Markets October 24, 2016 07:32 UTC