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NewsProlexus' 1Q net profit jumps 43% on improved apparel earnings
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Prolexus' 1Q net profit jumps 43% on improved apparel earnings
by Cals Thu 10 Dec 2015, 22:30
Prolexus' 1Q net profit jumps 43% on improved apparel earnings
By Yimie Yong / theedgemarkets.com | December 10, 2015 : 10:12 PM MYTKUALA LUMPUR (Dec 10): [size=16]Prolexus Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 2.10) posted a net profit of RM 7.73 million or 7.21 sen per share in the first quarter ended Oct 31, 2015 (1QFY16), up 43.1% from RM5.4 million or 5.1 sen per share a year ago, mainly due to increase in profits from the apparel division.
Revenue rose 31.3% to RM104.68 million, from RM79.7 million, its filing to Bursa Malaysia today showed.
Prolexus said the rise in revenue is largely attributable to the higher revenue in its apparel division.
The company is involved in apparels manufacturing for original equipment manufacturer (OEM), apparels retailing and outdoor advertising.
Barring any significant economic changes and unforeseen circumstances, Prolexus expects its performance for the forthcoming quarter to remain stable.
Prolexus closed unchanged at RM2.66 today, for a market capitalisation of RM311.67 million. Year-to-date, the counter has risen more than 127%.
(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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