Midas Holdings bounces back from poor quarter to post sharp jump in Q2 net profit

Midas Holdings has bounced back from a poor first quarter to register a second quarter net profit of 14.9 million yuan (S$3.1 million), up from 1.6 million yuan in the corresponding period last year.

Revenue for the three months to June 30 was up 29.2 per cent at 284 million yuan.

For the first half year, net profit fell by 40.8 per cent to 10 million yuan on the back of an 8 per cent rise in revenue to 486.4 million yuan.

Quarterl earnings per share climbed to 1.22 fen from 0.13 fen previously while net asset value per share eased marginally to 2.42 yuan compared to 2.43 as at Dec 31.

An unchanged interim dividend of 0.25 cent a share was declared.