KUALA LUMPUR: SILK Holdings Bhd's share price advanced in early trade on Friday, Oct 1 after it posted a stronger set of earnings for the fourth quarter ended July 31, 2010.

At 9.20am, it was up five sen to 40 sen. It was actively traded with 6.18 million shares done.

The FBM KLCI rose 3.19 points to 1,466.69. Turnover was 62.73 millikon shares done valued at RM58.23 million. There were 138 gainers, 79 losers and 133 stocks unchanged.

SILK's earnings jumped 146% to RM11.55 million for the fourth quarter ended July 31, 2010 from RM4.68 million a year ago, boosted by a one-off RM11.9 million negative goodwill and its highway division.

Revenue rose 32.4% to RM59.61 million from RM45 million.  SILK said the higher revenue in 4Q10 was due to recognition of contribution from the highway division compared to a year ago when there was only the oil and gas division.