Careplus hits three-year high

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KUALA LUMPUR (Oct 31): Latex examination glove maker Careplus Group Bhd share price resumes its upward trend when it climbed to a three-year high of 49.5 sen today.

The stock closed at 49 sen, up 2.5 sen or 5.38%, with 6.87 million shares changing hands.

Careplus was picked by The Edge Research as the Stock with Momentum today.

The core business of Careplus is manufacturing of latex examination gloves under its “Rubbercare®” and “Guardian” brand names, as well as third party labels.

The company also source nitrile and vinyl gloves from third party manufacturers, processes and packs them under its brand names and private labels, as it does not manufacture this gloves.

Careplus posted a net profit of RM2.79 million for the six month ended June 30, on revenue of RM72.6 million. Earnings per share came in at 1.2 sen.

There is no comparison result of corresponding quarter, as the company has changed its financial year end from January 31 to December 31 in 2013.