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Hot Stock Comintel jumps 20% on solid 4Q earnings
by Cals Mon 28 Mar 2016, 00:09
- Hot Stock
[size=28]Comintel jumps 20% on solid 4Q earnings
By Tan Siew Mung / theedgemarkets.com | March 25, 2016 : 9:58 AM MYTKUALA LUMPUR (March 25) : Comintel Corporation Bhd's share price surged as much 13 sen or 20% to 77 sen, and emerged as a top gainer in Bursa Malaysia this morning.
This was after the information and telecommunications solutions provider announced its net profit jump 10 times to RM6.3 million for the financial year ended Jan 31, 2016 (4QFY16), from merely RM628,000 a year ago.
At 9.37am, the group was 18.7% or 12 sen higher at 76 sen. It saw 15.93 million shares traded, with a market capitalisation of RM89.6 million.
The counter, which has been seen as a beneficiary of the strong US dollar, has seen its share prices to decline 9.04% year-to-date.
Yesterday, the group announced to Bursa Malaysia that it posted a net profit of RM13.89 million for the financial year 2016 (FY16), compared with a net loss of RM1.34 million in FY15. This was underpinned by the group's higher revenue.
The group's revenue for the 4QFY16 rose 28.29% to RM109.31 million, from RM85.21 million in 4QFY15. This has led to higher revenue for FY16 of RM377.22 million, a 21.87% increase from RM309.54 million in FY15.
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