Reflections on Volume

Big volume without further upside equals distribution
Big volume without further downside equals accumulation

Volume tends to peak at turning points
Volume often precedes price movement
Volume is a relative study

Saturday, February 19, 2011

AMMB set for another record earnings

AMMB Holdings Bhd (1015)reported strong third quarter numbers and is set to report record earnings for the fourth straight year for 2011.

"We remain on course to achieving faster non-interest income growth, with higher contributions from foreign exchange, derivatives, and assurance businesses," AMMB group chief executive officer Cheah Tek Kuang said in a statement.

The financial group reported a net profit of RM338.4 million for the third quarter to December 31 2010, a 22 per cent jump, driven by growth in non-interest income operations like Islamic banking and insurance.

Group revenue rose 6.4 per cent to RM1.8 billion in the quarter.

AMMB said earnings were also higher because it wrote back financial impairments and doubtful receivables of RM38.3 million and RM2.3 million respectively, compared with an impairment loss of RM19.2 million and RM4 million for the previous corresponding quarter.

Its nine-month numbers were already better than its full year figures for 2010.



No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Related Posts Plugin for WordPress, Blogger...