KUALA LUMPUR: Shares of GUAN CHONG BHD
rose over 3% on Monday after the company reported a decent set of numbers for the first quarter ended March 31.
The world’s fourth-largest cocoa grinder rose 3.06%, or nine sen to RM3.03, its highest in at least two months.
Guan Chong saw its net profit jumped 35.8% to RM72.2mil in the first quarter ended 31 March 2020 from RM53.1mil a year ago.
The company attributed the higher profit to better selling prices of cocoa ingredients and contribution from newly-acquired Germany-based industrial chocolate producer Schokinag Holding GmbH (SCHOKINAG).
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