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Hot Stock Prolexus rises 3% in morning trades
by Cals Wed 30 Sep 2015, 22:11
- Hot Stock
[size=28]Prolexus rises 3% in morning trades
By Cynthia Blemin / theedgemarkets.com | September 30, 2015 : 11:29 AM MYTKUALA LUMPUR (Sept 30): Shares of Prolexus Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 2.10) rose as much as 3% in the morning trades today on news of strong fourth quarter results.
At 10.44am, shares of Prolexus were up 6 sen or 2.46% at RM2.50 with 292,700 shares trading hands giving it a market capitalisation of RM276.7 million.
To recap, Prolexus posted a higher net profit for the fourth quarter ended July 31, 2015, up 25.6% to RM7.19 million or 6.66 sen per share, from RM5.72 million or 5.43 sen per share a year ago.
Revenue climbed 33.7% to RM119.99 million, from RM89.72 million a year ago.
Meanwhile, full year revenue totalled to RM350.34 million, increasing 19.1% from RM294.11 million a year ago.
Full year net profit also gained 16.8% to RM21.59 million, from RM18.48 million in the previous year.
Prolexus attributed the enhanced profits and revenue to better performance of the apparel division. Notably, Prolexus is a contract manufacturer of sports apparels for global brands, principally Nike.
(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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