Thursday 28 Mar 2024
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KUALA LUMPUR (March 16): Magni-Tech Industries Bhd saw its net profit rose 17.85% to RM17.49 million in the third quarter ended Jan 31, 2015 (3QFY15), compared to RM14.84 million a year earlier, due to higher revenue and other operating income.

This translated into higher earnings per share (EPS) of 16.12 sen, compared to 13.68 sen a year ago, its filing to Bursa Malaysia today showed.

It also announced a single-tier interim dividend of 5 sen for the financial year ending 30 April 2015, which will be payable on April 20.

Meanwhile, revenue was up 7.11% to RM200.36 million, from RM187.07 million, which Magni-Tech (fundamental: 2.8; valuation: 2.4) attributed to higher sale orders received from its garment and packaging businesses.

For the nine months ended Jan 31 (9MFY15), Magni-Tech posted a net profit of RM35.58 million — an increase of 6.33% from RM33.46 million in the previous year, which resulted in a higher EPS of 32.79 sen for the period, compared to 30.84 sen in 9MFY14.

9MFY14’s revenue was up 10.4% to RM539.65 million, from RM488.83 million.

On its prospect, Magni-Tech said the manufacturing and sale of garment will still be the group's major revenue contributor.

“The group maintains a cautiously positive outlook for the remaining quarter of the current financial year, amid the global economic uncertainty. Both the garment and packaging businesses are expected to remain profitable for the remaining quarter of the current financial year,” it added.

Magni-Tech closed at RM2.91 today, down 0.34% or 1 sen, giving it a market capitalisation of RM315.7 million.  

(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.)

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