RCE Cap advances on stronger earnings outlook - 22nd Nov 2010

KUALA LUMPUR: Shares of RCE CAPITAL BHD climbed in early trade on Monday, Nov 22 after it reported stronger earnings in the the second quarter ended Sept 30, 2010 and expected earnings to improve.

At 9.13am, RCE rose 2.5 sen to 65 sen with 2.17 million shares done.

The FBM KLCI was up 2.72 points to 1,508.77. Turnover was 63.71 million shares done valued at RM43 million. There were 168 gainers, 46 losers and 95 stocks unchanged.

RCE Capital’s earnings rose 65% to RM31.24 million in the second quarter ended Sept 30, 2010 underpinned by stronger demand for its new Syariah-based financing products and expected its performance to improve for the rest of the year.

RCE, which provides personal loans and consumer-financing services to public and private sector employees, had announced revenue rose 24.6% to RM74.62 million from RM59.88 million a year ago. Earnings rose to RM31.24 million from RM18.91 million.
(Source: Joseph Chin, The Edge Online)