Magnum posts net profit of RM48m in 3Q FY19

Magnum Bhd said on Tuesday its better performance was due to lower pre-tax loss recorded by the investment holdings division mainly due to tax penalty of RM44.20mil a year ago.

KUALA LUMPUR: Magum Bhd posted a net profit of RM48mil in the third quarter ended Sept 30,2019 compared with net loss of RM70.51mil a year ago.

It said on Tuesday its better performance was due to lower pre-tax loss recorded by the investment holdings division mainly due to tax penalty of RM44.20mil a year ago.