KUALA LUMPUR: Shares in Muda Holdings Bhd plunged 22% to their lowest since early this month after the company reported a 13.45% year-on-year drop in earnings. It fell 22.34%, or 63 sen to RM2.19 with five million shares traded. Muda’s net profit dropped 13.45% year-on-year to RM15.71mil in the first quarter ended March 31, 2018 (1QFY18) from RM18.15mil. The lower net profit was partly due to higher tax expenses during the quarter which amounted to RM6.73mil against RM2.39mil last year. Its quarterly revenue climbed 17.33% to RM371.59mil compared with RM316.72mil last year.

Source: The Star May 30, 2018 02:15 UTC