Paramount falls 2.15% as 2Q earnings decline

KUALA LUMPUR (Aug 17): Paramount Corp Bhd fell 2.15% in thin trade this morning after its net profit declined 39% to RM14.67 million for the second quarter ended June 30, 2017, from RM23.91 million a year earlier, mainly on lower profit contribution to its property segment.

At 9.21am, Paramount fell 4 sen to RM1.82 with 30,800 shares done.

Revenue increased 27% to RM184.56 million from RM145.31 million, on higher contributions from both property and education divisions.

The group’s cumulative six month net profit fell 32% to RM22.97 million from RM33.6 million in the previous corresponding six months. Cumulative revenue rose 27% to RM327.5 million from RM258.64 million. — theedgemarkets.com

For more stories, download TheEdgeProperty.com pullout here for free.