Hot Stock Lii Hen up 6.4% on strong 1Q financials
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Hot Stock Lii Hen up 6.4% on strong 1Q financials
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[size=28]Lii Hen up 6.4% on strong 1Q financials
By Supriya Surendran / theedgemarkets.com | May 23, 2016 : 10:06 AM MYTKUALA LUMPUR (May 23): Shares of furniture manufacturer Lii Hen Industries Bhd were up as much as 16 sen (6.4%) this morning to RM2.67, following the group’s strong first quarter ended Mar 31, 2016 (1QFY16) financials.
Lii Hen’s 1QFY16 net profit almost doubled to RM21.02 million from RM10.74 million in the previous corresponding quarter due to higher revenue and a better US dollar conversion rate.
Revenue rose 47.6% to RM165.39 million from RM112.08 million, the furniture manufacturer said in its Bursa Malaysia filing last Friday.
The group also declared a first interim single-tier dividend of 4 sen per share, which will go ex on June 10 and is payable on June 28.
At 9.42 a.m, Lii Hen shares were trading at RM2.67, with a trading volume of 1.62 million shares and for a market capitalisation of RM451.8 million. The counter was second among the top gainers of Bursa Malaysia this morning.
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