Efficient E-Solution share price hits record high

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KUALA LUMPUR (Sept 2): Efficient E-Solutions Bhd's share price has rocketed 14% or 3.5 sen to record high of 28.5 sen today, with brisk trading volume of 91.67 million shares changing hands.

The stock hit an intra-day high of 29 sen today.

Little known Efficient provides outsourcing services for data, document processing, both electronic and physical distribution, records management and archival services among others.

Dealers said the share price rally is in tandem with the recent renewed interest in IT-based companies — for instance IFCA MSC Bhd, Censof Holdings Bhd and GHL System Bhd — whose share prices have climbed substantially of late.

Efficient announced last Friday that its profit before tax was RM 2.59 million for the second quarter ended June 30, compared to RM1.94 million the same quarter last year. For the first half of the financial year 2014 (1HFY2014), profit before tax was RM4.91 million, compared to RM3.73 million.

The net profit grew to RM 1.47 million for 2QFY14, compared to RM1.26 million for the same period last year. For 1HFY2014, its net profit came in higher at RM3.05 million against RM2.57 million.

Basic earning per share (EPS) for the second quarter was 0.21 sen, compared to 0.18 sen last year. For 1HFY2014, EPS increased to 0.43 sen, from 0.36 sen during the same period last year.

The company's net assets per share stands at 17 sen.