Binastra's share price rises on strong Q2 profit, revenue growth
KUALA LUMPUR: Construction firm Binastra Corporation Bhd’s share price rose in early trading on Friday after its net profit for the second quarter improved to RM50.61 million while revenue doubled to RM658.38 million.
Binastra Corporation Bhd saw its share price increase in early trading following a strong second-quarter performance. The company's net profit for Q2 rose to RM50.61 million, while revenue doubled to RM658.38 million. At 9:55 am, Binastra's share price climbed by one sen to RM2.50, with a trading volume of 620,500 shares. The profits and revenue growth were primarily attributed to the construction segment.
RHB Investment Bank Bhd maintained a "Buy" rating on Binastra, raising its target price from RM3.10 to RM3.38, indicating a 36% upside and an estimated 4% yield for the 2027 financial year. This assessment is based on Binastra's first-half FY27 core profit of RM85.7 million, which grew by 60% year-on-year and accounted for 50% of the full-year forecast and 49% of the market consensus estimate.
The bank also expects the remaining quarters to meet or exceed the record high of RM50.6 million in core earnings for the second quarter of FY27, given the company's potential for further billings from its RM6.7 billion outstanding orderbook.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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