KUALA LUMPUR (Oct 22): Specialised electronic manufacturer KESM Industries Bhd dropped 3.14% on profit taking a month after posting record fourth quarter ended July 31, 2015 (4QFY15) results.

At 11.46am, KESM Industries slipped 16 sen to RM4.94, making it one of top five losers with 629,700 shares done for a market capitalisation of RM219.4 million. Losses narrowed by 2.94% with 635,300 shares transacted at 12.01pm.

KJ Securities Sdn Bhd remisier KC Goh told the edgemarkets.com that investors found that the value of the stock had been realised when it hit RM5.10 yesterday, hence the dip based on profit taking today. Year-to-date, its share price has risen 104.5% from RM2.42.

On Sept 22, KESM Industries announced that net profit for 4QFY15 rose 56.4% to RM10.45 million or 24.3 sen per share compared to RM6.68 million or 15.5 sen per share a year ago, primarily due to foreign currency translation income.

The period saw a foreign currency translation income of RM3.11 million compared with a loss of RM7,000 in 4QFY14.

For the cumulative 12 months ending July 31, 2015 (FY15), net profit jumped 56.5% to RM17.03 million or 39.6 sen per share from RM10.88 million or 25.3 sen per share in FY14.

Revenue for the period increased to RM263.12 million from RM254.37 million, primarily due to higher demand from burn-in and testing services.

(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.)