KUALA LUMPUR (Oct 27): Melati Ehsan Holdings Bhd's fourth quarter ended Aug 31, 2016 (4QFY16) net profit rose near 5.7 times or 472% to RM13.1 million from RM2.3 million a year ago, mainly due to a gain from the disposal of a subsidiary. Revenue was up 119% to RM53.7 million from RM24.5 million last year, it said in a bourse filing yesterday. For the full FY16, net profit grew 287% to RM30.2 million from RM7.8 million last year, though revenue was down 42% to RM103.9 million from RM178.8 million last year. Its lower full year revenue was mainly because of a weaker contribution from the construction sector and property development. Melati Ehsan closed up two sen or 3.31% at 62.5 sen yesterday, valuing it at RM85.4 million.

Source: The Edge Markets October 26, 2016 18:56 UTC