Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on October 26, 2016.

 

Nylex (M) Bhd (-ve)

SHARES in Nylex (Malaysia) Bhd (fundamental: 0.75/3, valuation: 2.6/3) triggered our momentum algorithm for the first time this month after trades of 4.4 million shares, against its 200-day average volume of 318,047.5 shares. The counter rose 2.5 sen or 3.5% to close at 74 sen yesterday.

For the fourth financial quarter ended May 31, 2016 (4QFY16), Nylex nearly tripled its net profit to RM6.49 million from RM2.24 million in 4QFY15, on higher contributions from its subsidiaries abroad.

Meanwhile, revenue fell 10% to RM291.02 million from RM324.13 million.

For the full year (FY16), its net profit rose 51% to RM11.15 million or 5.79 sen per share, from RM7.39 million the previous year. Revenue fell 6% to RM1.2 billion from RM1.27 billion. The counter is trading at 0.43 times its book value.

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