Hot Stock Petron Malaysia jumps 7.3% on returning to the black

by **Cals** Sun 24 May 2015, 17:01

Hot Stock
Petron Malaysia jumps 7.3% on returning to the black

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By Surin Murugiah / theedgemarkets.com | May 22, 2015 : 9:58 AM MYT

KUALA LUMPUR (May 22): [size=14]Shares Petron Malaysia Refining & Marketing Bhd rose 7.31% this morning after the company returned to the black with a net profit of RM56.82 million for the first quarter ended March 31, 2015 (1QFY15), on improved margins as crude oil price remained low.

It has been reporting quarterly losses since 2QFY13.

At 9.37am, Petron gained 19 sen to RM2.79 with 79.600 shares traded.

In a filing with Bursa Malaysia yesterday, Petron posted a net profit of RM56.82 million or 21.05 sen earnings per share compared with a net loss of RM6.72 million or 2.49 sen loss per share a year earlier.

Revenue for 1QFY15 fell 37.5% at RM1.84 billion in 1QFY15 from RM2.94 billion in 1QFY14.

Petron (fundamental: 0.2; valuation 1.8) attributed the group’s improved financial performance to pro-active risk management, better operating efficiencies and improved margins.

(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. Go to [You must be registered and logged in to see this link.] for details on a company’s financial dashboard.)
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