KUALA LUMPUR, Feb 23 (Bernama) -- IOI Corp Bhd's net profit soared to RM603.10 million in the second quarter ended Dec 31, 2017 (2Q18) from RM26.60 million a year earlier.
The group attributed its performance to net foreign currency translation gain on foreign currency denominated borrowings and fair value gain on derivative financial instruments from its resource-based manufacturing segment.
Revenue for the quarter, however, eased to RM2.39 billion from RM2.5 billion year-on-year, while earnings per share surged to 9.48 sen from 0.25 sen previously.
Profit from discontinued operations also declined to RM96.6 million for 2Q18 compared with RM115.5 million in 2Q17.
It said the discontinued operations comprised resource-based manufacturing businesses, pending the divestment of a 70 per cent equity interest in Loders Croklaan Group B.V., which the group expects to be completed in 3Q18.....