Hot Stock Kossan jumps 6%, 1Q profit up 51%

Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 29 May 2013 15:48
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KUALA LUMPUR (May 29): KOSSAN RUBBER INDUSTRIES BHD []
jumped as much as 6% after the rubber glove manufacturer reported a
51% rise in first quarter net profit from a year earlier. The numbers are
in line with analysts' forecast.
At 3.35pm, Kossan changed hands at RM4.33 with some 852,000
shares done after rising as much as 23 sen to RM4.36 earlier. The
stock was the bourse's sixth-largest gainer.
Kossan said last Monday (May 27) that net profit came to RM33.22
million in the first quarter ended March 31, 2013 from RM21.95 million.
Revenue climbed to RM327.27 million from RM289.43 million.
CIMB Investment Bank Bhd analyst Yeoh Yung-Juen said Kossan's first
quarter profit "broadly met expectations", accounting for 26% and 27%
of CIMB’s and street estimates respectively.
CIMB has maintained its target price of RM4.81 and "outperform" call
for Kossan.

7153 KOSSAN

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kossan-cb looking good