BUSINESS

RCE CAPITAL Q1 NET PROFIT NARROWS TO RM32.22 MLN

11/08/2022 08:02 PM

KUALA LUMPUR, Aug 11 (Bernama) -- RCE Capital Bhd’s net profit declined to RM32.23 million in the first quarter (Q1) ended June 30, 2022, from RM35.39 million in the same period a year ago.

Revenue fell by 0.5 per cent to RM77.66 million compared with RM78.03 million previously.

“Following the gradual easing of various restrictions, the group has experienced positive momentum in its business mainly from the increased economic activities and growth prospects,” it said in a filing with Bursa Malaysia. 

Nevertheless, the group said it remained vigilant in view of more Overnight Policy Rate (OPR) hikes anticipated ahead.

“This includes sourcing of competitive financing facilities, maintaining prudence in credit risk management and digital initiatives acceleration to ensure sustainable value creation for all stakeholders,” it said.

Therefore, it expects to remain profitable for the financial year ending March 31, 2023.

At 5 pm, the group’s share price was unchanged at RM1.66, with 295,300 shares changing hands.  

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy