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Hot Stock Concrete Engineering jumps 12% on 1Q profit
by Cals Sat 30 Jan 2016, 02:25
- Hot Stock
[size=28]Concrete Engineering jumps 12% on 1Q profit
By Sangeetha Amarthalingam / theedgemarkets.com | January 29, 2016 : 11:47 AM MYTKUALA LUMPUR (Jan 29): Concrete Engineering Products Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 0.75) jumped 24 sen or 12% after reporting a net profit of RM7.92 million in its first quarter ended Nov 30, 2015 (1QFY16). This compares to a net loss of RM5.15 million a year earlier.
At 10:57am today, Concrete Engineering shares rose to RM2.26, the stock's highest so far today. At RM2.26, the company had a market capitalisation of RM101.2 million.
The stock saw 134,800 shares exchanging hands.
Yesterday (Jan 28), Concrete Engineering said its 1QFY16 net profit came on higher revenue at RM59.09 million, from RM48.84 million a year earlier.
The company's latest reported net assets per share stood at RM2.56.
According to Concrete Engineering's website, the company produces construction materials, including concrete piles and poles for local and export markets.
Its export markets include Singapore, Brunei and Indonesia, according to the company.
(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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