Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on May 8, 2017

JCY International Bhd (-ve)

Shares in hard disk drive components supplier JCY International Bhd (fundamental: 2.25/3, valuation: 1.2/3) climbed three sen or 4.76% to settle at 66 sen last Friday.

Trading volume jumped near 12 times to 14.73 million shares, compared with the average 3.03 million shares seen in the last 200 days.

Its net profit for the quarter ended Dec 31, 2016 rose 1.64% to RM42.08 million or 2.04 sen a share, from RM41.4 million or 2.02 sen a share a year earlier. Revenue, however, fell 21.8% to RM413 million from RM528.16 million, mainly due to lower sales volume and a lower average selling price. It declared a first interim dividend of 1.25 sen per share for the financial year 2017, paid on April 7.

On prospects, the company said in a filing in February that global demand for data storage remained relatively stable, and that it was expecting “continued healthy demand for HDDs”.

      Print
      Text Size
      Share