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Nylex shares advance at mid-morning
by hlk Thu 28 Jul 2011, 13:50
KUALA LUMPUR: Nylex (Malaysia) Bhd shares advanced on Thursday, July 28 after its net profit for the fourth quarter ended May 31, 2011 rose 54.6% to RM7.82 million from RM4.71 million a year earlier, due mainly to higher demand for its products and improved margins.
At 10.30am, Nylex rose 4.5 sen to 63.5 sen with 200,300 shares.
Nylex said on Wednesday, July 27 that its revenue for the quarter rose to RM392.01 million from RM296.69 million in 2010. Earnings per share was 3.75 sen while net assets per share was RM1.39.
For the financial year ended May 31, Nylex’s net profit fell to RM13.18 million from RM35.11 million a year earlier on the back of revenue RM1.23 billion.
Reviewing its performance, Nylex said that compared to the immediate preceding quarter, crude oil prices in the current quarter was stronger.
“Thus, customers were more willing to stock up on our products and this increase in demand resulted in better sales and margins,” it said.
On its prospects, Nylex said that barring unforeseen circumstances its performance was for the next financial year ending May 31, 2012 was expected to be satisfactory.
At 10.30am, Nylex rose 4.5 sen to 63.5 sen with 200,300 shares.
Nylex said on Wednesday, July 27 that its revenue for the quarter rose to RM392.01 million from RM296.69 million in 2010. Earnings per share was 3.75 sen while net assets per share was RM1.39.
For the financial year ended May 31, Nylex’s net profit fell to RM13.18 million from RM35.11 million a year earlier on the back of revenue RM1.23 billion.
Reviewing its performance, Nylex said that compared to the immediate preceding quarter, crude oil prices in the current quarter was stronger.
“Thus, customers were more willing to stock up on our products and this increase in demand resulted in better sales and margins,” it said.
On its prospects, Nylex said that barring unforeseen circumstances its performance was for the next financial year ending May 31, 2012 was expected to be satisfactory.
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