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Stock With Momentum Magni-Tech Industries

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Stock With Momentum Magni-Tech Industries Empty Stock With Momentum Magni-Tech Industries

Post by Cals Wed 01 Jul 2015, 01:06

Stock With Momentum
Magni-Tech Industries




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By Asia Analytica / The Edge Financial Daily   | June 30, 2015 : 10:18 AM MYT 

[size=14]Magni-Tech Industries Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (-ve)

MAGNI-TECH (Fundamental: 2.8/3, Valuation: 2.4/3), an apparels manufacturer which is a major supplier to global sportswear leader Nike, surged to a 3-year high of RM3.95 after posting stellar 4QFYApr2015 results last week. The stock closed 4.4% lower at RM3.70 yesterday. 

For 4QFY15, revenue grew 8.8% y-o-y to RM176.7 million while net profit jumped 94.7% to RM16.5 million, mainly due to higher sales orders and lower cost of sales. For the full year FY2015, net profit increased 24.2% to RM52.1 million on the back of a 10.0% sales growth to RM716.4 million.

The company proposed a final dividend of 3 sen per share and a special dividend of 7 sen per share. Dividends totalled 15 sen in FY2015, returning a yield of 3.9%.

Magni-Tech has a debt-free balance sheet with cash of RM69.0 million. The stock is trading at a trailing 12-month P/E of 8.06 times and 1.54 times book value.

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This article first appeared in The Edge Financial Daily, on April 27, 2015.
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Cals
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