Poh Kong up 9% on 2Q net profit surge

PohKong

-A +A

KUALA LUMPUR (Mar 26): Poh Kong Holdings Bhd leapt as much as 9% after the jeweller reported a 498% surge in net profit for its second quarter ended Jan 31, 2015 (2QFY15) from a year earlier.

Poh Kong (fundamental: 0.65; valuation: 1.2) rose as much as four sen to 47 sen before reducing gains.

At 9.56am, the stock was traded at 46.5 sen with 353,300 shares exchanging hands. For comparison, the FBM KLCI fell 2.94 points or 0.16% to 1,816.16.

Poh Kong's share price compares with its book value of RM1.11 a share.
 
Yesterday, Poh Kong said 2QFY15 net profit jumped to RM7.71 million from RM1.29 million.
However, revenue fell to RM216.45 million from RM226.91 million.

Cumulative 1HFY15 net profit rose to RM10.79 million from RM5.94 million a year earlier.
Revenue was higher at RM410.41 million versus RM407.04 million.

Other public-listed jewellers in Malaysia include Zhulian Corp Bhd (fundamental: 2.7; valuation: 1.2) and Degem Bhd (fundamental: 2.1; valuation: 2.4).

Both stocks had yet to be traded at the time of writing.

(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.)