REDtone 2Q net profit down 12.4% on absence of disposal gain

by **Cals** Wed 21 Jan 2015, 02:51

REDtone 2Q net profit down 12.4% on absence of disposal gain

By Supriya Surendran / theedgemarkets.com | January 20, 2015 : 6:23 PM MYT

KUALA LUMPUR (Jan 20): REDtone International Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (fundamental: 2.3; valuation: 0.3) saw its net profit for the second financial quarter ended Nov 30, 2014 (2QFY15) fall by 12.4% to RM5.29 million, from RM6.04 million a year ago, mainly due to the absence of a gain on disposal of its 35% shareholding inREDtone Mobile Sdn Bhd which was recognised in 2QFY14.

However, revenue for 2QFY15 rose 47.1% to RM44.8 million from RM30.45 million a year ago due to higher data project revenue.

Earnings per share (EPS) for 2QFY15 was 1.04 sen, lower than the 1.2 sen reported in 2QFY14.

For the six months ended Nov 30, 2014 (1HFY15), REDtone’s net profit increased by a marginal 0.3% to RM9.72 million from RM9.69 million a year ago, while revenue jumped 18.4% to RM78.98 million from RM66.56 million in 1HFY14.

EPS stood at 1.91 sen compared with 1.92 sen in 1HFY14.

REDtone shares closed unchanged at 74 sen today, bringing a market capitalisation of RM388.19 million.

[size=12](Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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