KUALA LUMPUR (June 26): Redtone International Bhd shares jumped 8.20% in active trade after its net profit for the fourth quarter ended April 30, 2019 rose 53% to RM4.8 million, from RM3.13 million in the previous year, thanks to higher revenue contributions from its managed telecommunication network services (MTNS) segment.

At 9.05am, Redtone rose 2.5 sen to 33 sen with 1.52 million shares done for a market capitalisation of RM250.29 million.

Earnings per share improved to 63 sen, versus 41 sen per share previously.

The group said revenue during the quarter rose by 132% to RM73.38 million, against RM31.61 million a year ago.

For the 12-month period, net profit rose 157% to RM15.36 million versus RM5.97 million previously, as revenue increased 52% to RM178.93 million, compared to RM118.08 million previously.

Moving forward, the group is of the view that the operating performance for the remaining period of the financial year will remain challenging and competitive.