This article first appeared in The Edge Financial Daily, on November 3, 2015.
Psahaan Sadur Timah Msia (-ve)
SHARES of Perstima (Fundamental: 2.35/3, Valuation: 2.4/3), have risen by 9.8% since last Wednesday, along with higher trading volume. The stock gained 4.8% to close at RM5.28 yesterday.
This came after the company released its 2QFYMar2016 results last Tuesday. For 1HFY2016, sales rose 5.6% to RM335.2 million, while net profit jumped 71.5% to RM23.4 million, largely attributed to higher sales volume and profit margins from Vietnam and Malaysia operations.
On the same day, it also announced an interim dividend of 18 sen per share for FY2016, which will go ‘ex’ on November 13.
Perstima is the country’s sole manufacturer of tinplate used in various forms of packaging, for liquid milk, processed food, dry food, paint, motor oil, beer, beverage and edible oil, amongst others.
Notably, Perstima was first featured as Insider Asia’s stock of the day on June 2 at RM4.24, citing consistent dividend stream and above-market average yields.