GDex up on solid 3Q earnings

By surin murugiah of theedgemlaysia.com | The Edge Malaysia – Thu, May 10, 2012

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KUALA LUMPUR (May 10): GD Express Carrier Bhd shares advanced on Thursday afer its net profit jumped 61.07% for its third quarter ended Mar 31 to RM2.11 million from RM1.31 million a year ago, due to an increase in business volume and growth in its customer base.

At 9.08am, GDex rose three sen to RM1.04 with 8,000 shares done.

In a statement on Bursa Malaysia on Wednesday, it said that its revenue for the quarter increased 24.49% to RM28.77 million from RM23.11 million.

Earnings per share were 0.82 sen compared to 0.51 sen a year ago, while net assets per share was 19 sen.

GDex attributed its strong performance to an increase in both business volume and growth of its customer base.

It added that the completion of a transshipment hub upgrading at the end of its first quarter had also helped support the increased business volume and handling capacity increased almost three fold in its third quarter.

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