ES Ceramics' 2Q net profit jumps 32% to RM1.8 mil

by **Cals** Thu 28 Jan 2016, 22:28

ES Ceramics' 2Q net profit jumps 32% to RM1.8 mil

By Billy Toh / theedgemarkets.com | January 28, 2016 : 7:27 PM MYT

KUALA LUMPUR (Jan 28): [size=16]ES Ceramics Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 0.80, Fundamental: 1.95) saw its net profit for the second quarter ended Nov 30, 2015 (2QFY16) jump 32% to RM1.83 million or 0.9 sen per share from RM1.39 million or 0.7 sen per share a year ago, in tandem with the increase in revenue.

Revenue for 2QFY16 grew 7% to RM7.66 million from RM7.14 million in 2QFY15.

For the half year of FY16 (1HFY16), ES Ceramics' net profit climbed 31.4% to RM3.3 million or 1.6 sen per share, from RM2.5 million or 1.3 sen per share in the previous year, helped by the continuous cost improvement, better product mix and higher output volume.

Cumulative revenue came in 7.9% higher at RM14.3 million compared with RM13.3 million in 1HFY15.

Moving forward, ES Ceramics is mindful of the challenge posed from the continued escalation of production cost due to increase in various essential cost components coupled with fluctuation in exchange rates.

"Barring any unforeseen circumstances, the Group expects to achieve a favourable performance in the coming year," it added.

ES Ceramics' share price closed down 3.5 sen or 6.9% at 47.5 sen, giving it a market capitalisation of RM97.6 million.

(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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