KUALA LUMPUR (May 29): Jerasia Capital Bhd gained as much as 31.11% after reporting that its net profit for its recently ended fourth quarter surged 671.63% to RM6.42 million from RM0.83 million a year ago.

At 10.47am, Jerasia (fundamental: 0.35; valuation: 1.7) was trading 12.5 sen or 27.78% higher at 57.5 sen, making it the tenth largest gainer in the market today.

Yesterday, the group said that its surge in net profit for the quarter was largely due to accelerated spending prior to the implementation of the goods and services tax (GST).

It also said yesterday that its cumulative net profit for FY15 tripled from RM3.28 million to RM10.09 million.

It said that despite the current uncertainties surrounding the onset of GST, the group is maintaining an optimistic outlook for the next financial year. “It is on an expansionary track in respect of its domestic retail business, aggressively opening new boutiques and introducing new international brands,” it said.

(Note: 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.)