UMA Bursa slaps UMA query on Ajinomoto over price spike

by **Cals** Thu 17 Dec 2015, 21:06

UMA

[size=28]Bursa slaps UMA query on Ajinomoto over price spike

By Yimie Yong / theedgemarkets.com | December 17, 2015 : 4:45 PM MYT

KUALA LUMPUR (Dec 17): Ajinomoto (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 2.80) has received an unusual market activity query from Bursa Malaysia on the rise in its share price recently.

Yesterday, shares of Ajinomoto rose as much as 24.83% or RM1.85 to reach a record high of RM9.30. The counter later pared gains to close at RM9.25.

As at 3.34pm today, the counter fell 15 sen or 1.62% to trade at RM9.10, with 59,500 shares changing hands. Its market capitalisation stood at RM553.57 million. Ajinomoto shares hit an intra-day high of RM9.30 in early trade.

Year to date, the counter has risen 64.55%.

For the second financial quarter ended Sept 30, 2015 (2QFY16), its net profit jumped 62.47% to RM12.38 million from RM7.62 million a year ago. Revenue was up 6.22% at RM93.96 million from RM88.46 million in 2QFY15.

For the first half ended Sept 30, 2015 (1HFY16), net profit surged 43.1% year-on-year to RM22.7 million on the back of an 8.5% growth in revenue to RM189.5 million. The increase in net profit was mainly due to higher sales and better profit margins from export sales.

(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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