Hot Stock Pintaras Jaya gains 4.6% after announcing 3Q results, 7 sen dividend

by **Cals** Tue 19 May 2015, 00:13

Hot Stock
Pintaras Jaya gains 4.6% after announcing 3Q results, 7 sen dividend

KUALA LUMPUR (May 18): Construction services provider Pintaras Jaya Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw its share price climb 4.6% after the group posted net profit growth of 49% for its third quarter ended March 31, 2015 (3QFY15), and an interim single-tier dividend of 7 sen per share.
At 11.13am, Pintaras Jaya (fundamental: 3.0; valuation: 2.4) gained 19 sen or 4.6% to trade at a high of RM4.27, with 33,000 shares done. The counter was among top gainers on the board.
On Friday, the group posted a 49% growth in net profit to RM13.78 million or 8.60 sen per share for 3QFY15, from RM9.26 million or 5.8 sen in 3QFY14, while revenue increased 17% to RM57.34 million, from RM48.89 million.
Pintaras Jaya said the better profit for the quarter was mainly due to the inclusion of non cash employee benefits cost under its employee stock option scheme (ESOS) of RM4 million, in the previous year’s corresponding quarter.
For the current financial year to date, its net profit grew 21% to RM40.47 million, from RM33.53 million in the same period a year earlier, while revenue rose 40% to RM195.64 million, from RM140.16 million.
Looking ahead, the group expects its construction business to perform satisfactorily for the remaining fourth quarter, based on its existing outstanding order book.
“The balance of our order book is at the low end and many projects are at the end stage of completion. Our current capacity allows us to be more aggressive in replenishing our order book in the coming months,” it said.
Pintaras Jaya maintains a positive outlook on the construction industry for the coming year, as it expects the 11th Malaysia Plan, to be announced on May 21, to support the segment’s growth.
[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.)[/size]