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NewsHot Stock Hartalega up 1.81% on firmer 3Q earnings
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Hot Stock Hartalega up 1.81% on firmer 3Q earnings
by Cals Thu 18 Feb 2016, 01:57
- Hot Stock
[size=28]Hartalega up 1.81% on firmer 3Q earnings
By Surin Murugiah / theedgemarkets.com | February 17, 2016 : 9:28 AM MYTKUALA LUMPUR (Feb 17): Shares of Hartalega Holdings Bhd rose 1.81% in early trade today after its net profit for the third quarter ended Dec 31, 1015 surged 47% to RM72.8 million or 4.44 sen per share, from RM49.5 million or 3.20 sen per share in the previous corresponding period.
At 9.10am, Hartalege rose 9 sen to RM5.07 with 212,700 shares done.
The significant increase was largely due to the company’s continuous expansion in production capacity and higher demand.
For the cumulative nine-month period, Hartalega registered a net profit of RM195.9 million or 11.95 sen per share, an increase of 26.6% compared to the previous corresponding period’s RM154.8 million or 9.99 sen per share. The company recognised a net foreign exchange loss of RM21 million for the nine-month period, compared with RM5.6 million previously.
According to the filing with Bursa Malaysia, Hartalega has proposed a second interim dividend of two sen per share, payable on March 30.
Looking ahead, the company is optimistic that it will achieve the internal target growth for the year ending March 31, 2016 on the back of strong demand for nitrile rubber gloves.
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