Friday, August 23, 2013

Instacom posts higher Q2 pre-tax profit

Instacom posts higher Q2 pre-tax profit

Instacom Group Bhd, a Kuching-based solutions provider for the telecommunications industry, continued its winning streak to record a higher pre-tax profit of RM7.63 million and a better revenue of RM36.3 million for the second quarter ended June 30, 2013.

In the first quarter, it reported a pre-tax profit of RM6.96 million and revenue of RM30.2 million.

Chief executive officer Anne Kung said the strong financial achievements bode well for the group to book in profits for the current financial year, against strong demand from local major telecommunications providers.

"We would like to record our sincerest appreciation to our valued customers who are currently in the midst of updating their networks to long-term evolution, while enhancing their service delivery and network coverage throughout Peninsular Malaysia as well as Sabah and Sarawak," she said in a

The company’s bonus issue of one free warrant for every two Instacom shares held was expected to be listed between September 6 and September 12, given the entitlement date for the bonus issue being August 30, 2013.

The to-be-listed warrants carry an exercise price of 33 sen per warrant which represents a discount of 17.5 per cent against yesterday’s closing price of 40 sen per Instacom share, indicating that shareholders are likely to make immediate profits.

Instacom recently made it to RHB Research’s top five jewels among Bursa Malaysia’s small capitalisation companies.-- Bernama

Publish date: 23/08/13

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