Latitude Tree up 4.59% on strong 2Q15 results

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KUALA LUMPUR (Feb 13): Shares of Latitude Tree Holdings Bhd rose 23 sen or 4.59% to RM5.24 today on the back of strong earnings in its second quarter ended Dec 31, 2014 (2Q15)

As at 11.22 am, a total of 563,900 shares had changed hands.

Latitude Tree Holdings (fundamental score: 2.1; valuation score: 1.8) announced yesterday its net profit increased to RM27.4 million in 2QFY15, up 44.4 percent, despite a marginal 2.5% climb in revenue to RM189.1 million.

The furniture manufacturer attributed the higher profit to higher orders received in the quarter, the strengthening of the US dollar against the ringgit and improved productivity.

For the six months period ended Dec 31, 2014, the group recorded a net profit of RM44.05 million, up 31.19% from a year earlier.

Revenue was mostly flat at RM364.82 million, versus RM361.49 million previously.

(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.)