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Hot Stock Sapura Industrial jumps 13.64% on solid 4Q earnings
by Cals Fri 01 Apr 2016, 08:08
- Hot Stock
[size=28]Sapura Industrial jumps 13.64% on solid 4Q earnings
By Surin Murugiah / theedgemarkets.com | March 31, 2016 : 10:05 AM MYTKUALA LUMPUR (March 31): Sapura Industrial Bhd shares jumped 13.54% this morning after its net profit for the fourth quarter ended Jan 31, 2016 (4QFY16) surged 232.65% to RM5.08 million from RM1.53 million a year ago.
At 9.42am, Sapura Industrial rose 13 sen to RM1.09 with 161,100 shares done.
Its earnings followed a 12.09% rise in revenue to RM61.1 million from RM54.5 million in 4QFY15, the group said in a filing with Bursa Malaysia yesterday.
For the financial year ended Jan 31 (FY16), net profit dipped 6.44% to RM7.71 million from RM8.24 million in FY15, while revenue fell 3.6% to RM224.3 million from RM232.7 million.
The drop in revenue was mainly due to lower domestic volume for certain models, said Sapura Industrial.
Moving ahead, the group said the total industry volume for 2016 is projected at 650,000 motor vehicles amidst uncertain economic factors, which have led to a subdued business environment and moderation in consumers' spending.
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