KUALA LUMPUR (Feb 11): China Stationery Ltd (CSL) reported a staggering net loss of RM172.54 million or 13.88 sen per share for the financial year ended Dec 31, 2014 (FY14), compared to a net profit of RM204.72 million in FY13.
Meanwhile, full year revenue had also plunged 63.8% to RM343.93 million, from RM949.51 million a year ago.
The China-based but Bursa Malaysia-listed shoemaker attributed the sharp decline in revenue to the decrease in sales of its patented products and non-patented products.
Meanwhile, it said the sharply lower sales and a fire incident that had ravaged its manufacturing plant in Fujian, China in April, had resulted in the group recording losses.
China Stationery closed unchanged at 8 sen today, giving it a market capitalisation of RM98.62 million.
(Notes: 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.)