Malaysia Genting Plantations shares up

Genting PLANTATION Bhd shares up after its net profit for the second quarter ended June 30, 2011 surged 96% to RM139.9 million from RM71.38 million a year earlier, due mainly to higher palm products prices and increased FFB production.

At 10.45am, Genting Plantations rose four sen to RM7.08.

Genting Plantations declared a gross interim dividend of 4.25 sen per share of 50 sen each to be paid on Oct 18.

Genting Plantations declared a gross interim dividend of 4.25 sen per share of 50 sen each to be paid on Oct 18.

It said on Wednesday, Aug 24 that revenue for the quarter rose 57.6% to RM364.38 million from RM231.17 million in 2010. Earnings per share rose to 18.44 sen from 9.41 sen, while net assets per share was RM4.03.(theedgemalaysia.com)