MyNews $MYNEWS 5275.MY$ shares rose 4.6% to 67.5 sen after releasing improved earnings results, valuing the company at RM502 million.

MyNews Holdings Bhd posted a net profit of RM1.73 million for its second quarter ended April 30, 2024 (2QFY2024), reversing a net loss of RM6.28 million from the same period last year. This marks the third consecutive profitable quarter after a series of losses since FY2020. The profit increase is attributed to improved in-store sales, higher profit margins, and contributions from a joint venture.

Revenue for 2QFY2024 rose by 10.66% to RM192.77 million, with gross profit margins improving from 34.3% to 37.9%. EBITDA increased to RM27.2 million from RM17.35 million in the previous year. No dividend was declared for the quarter.

For the first half of FY2024, MyNews recorded a net profit of RM3 million compared to a net loss of RM9.49 million in the same period of FY2023, with revenue up 8.37% to RM388.29 million. The company operates 622 outlets and plans to continue expanding and renovating stores to meet market trends and customer demand.

Meanwhile, GDB's $GDB 0198.MY$ shares rose 12% to close at 37 sen, having jumped over 70% since the start of the year.

GDB Holdings Bhd secured a significant RM865.66 million contract from a PNB associate to build a logistics hub in Shah Alam. This contract, nearly three times GDB's market cap, was confirmed following a report by The Edge Malaysia.

GDB's subsidiary, Grand Dynamic Builders Sdn Bhd, will design, build, and maintain a five-storey warehouse, starting in June 2024 and completing by December 2026. This is GDB's second major contract this year, boosting its order book to RM1.2 billion, ensuring work continuity until 2026.