The share price has been rising since May, when the company reported a turnaround in its earnings

 

SHARES of Yoma Strategic : Z59 +4.42% rose as much as 6.2 per cent in early trading on Friday (Jun 21), extending gains following a turnaround in its earnings last month.

 

The Myanmar-focused conglomerate&rsquo s counter gained S$0.007 to S$0.12 as at 9.59 am. The last time the counter closed near this level was in February 2023.

 

Around 31 million shares changed hands, making it the most heavily traded security by volume on the Singapore Exchange.

 

By 10.33 am, shares of Yoma were trading 3.5 per cent or S$0.004 higher at S$0.117, so it was then still the most-heavily-traded counter by volume on the exchange. No married deals were recorded in early trade, ShareInvestor data showed.

 

Yoma&rsquo s share price started to rally in May, when the company posted US$20.9 million in net profit for the second half-year ended March, turning around from a US$32.7 million net loss in the corresponding period in the financial year before.

 

The higher bottom line comes as the group recorded improvements across its core businesses, which lifted revenue by 32.1 per cent to US$109.2 million. Yoma has businesses in real estate, financial services, automotive and heavy equipment, healthcare and the consumer and tourism. 

 

Following the results, the company&rsquo s shares surged as much as 32.3 per cent or S$0.021 to close at S$0.086 on May 29.

 

For FY2024, net profit was US$18.4 million, from a US$41.2 million net loss in FY2023, on the back of a 78.6 per cent higher revenue at US$220.8 million. Its core earnings before interest, taxes, depreciation and amortisation for the year increased 160.5 per cent year on year to US$45.8 million.