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Hot Stock Padini jumps 4.35% on firmer 3Q earnings
by Cals Thu 19 May 2016, 23:30
- Hot Stock
[size=28]Padini jumps 4.35% on firmer 3Q earnings
By Surin Murugiah / theedgemarkets.com | May 19, 2016 : 9:32 AM MYTKUALA LUMPUR (May 19): Shares of Padini Holdings Bhd rose 4.35% in early trade today after its net profit for the third quarter ended March 31 (3QFY16) rose 32.1% to RM35.13 million from RM26.59 million a year ago, on the back of expanded revenues and smaller increase in operating expenses.
At 9.12am, Padini rose 10 sen to RM2.40 with 205,200 shares done.
Its revenue grew 20.71% to RM342.37 million from RM283.62 million, mainly driven by strong growth from existing stores as well as revenues generated from new stores opened.
Padini declared a fourth interim dividend of 2.5 sen per share (single tier) and a special dividend of 1.5 sen per share (single tier). Both dividends will go ex on June 1 and are payable on June 29.
Meanwhile, for the nine-month period (9MFY16), Padini's net profit rose 61.22% to RM100.03 million, or 15.2 sen per share, from RM62.05 million, or 9.43 sen per share, in 9MFY15.
Revenue rose 25.97% to RM952.32 million from RM755.96 million.
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