Syarikat Takaful gains 3% as Q4 profit rises 43%

KUALA LUMPUR: Shares of Syarikat Takaful Malaysia Bhd advanced 3% in early trade on Friday after reporting a 43% rise in fourth quarter earnings.

The counter rose 11 sen, or 3.06%  to RM3.70 and was the top gainer on Bursa Malaysia.

Syarikat Takaful Malaysia Bhd saw its net profit for the fourth quarter ended Dec 31, 2017 (4QFY17) rise 43% to RM56.3mil from RM39.2mil a year ago, thanks to higher net wakalah fee income and lower management expenses.

Its quarterly revenue grew 5.48% to RM517.7mil from RM490.8mil in the same corresponding period last year.

Full year earnings climbed to RM206.7mil compared with RM176.3mil previously.

Stock on the Move , Syarikat Takaful