Thursday 25 Apr 2024
By
main news image

This article first appeared in The Edge Financial Daily on August 2, 2018

Perusahaan Sadur Timah Malaysia Bhd (-ve)

TRADING of the shares in tinplate exporter, Perusahaan Sadur Timah Malaysia Bhd (Perstima), (fundamental: 2.50/3, valuation: 1.4/3) saw its shares rise 7.44% or 36 sen to RM5.20 yesterday, after 187,500 shares were traded, which were near seven times its 200-day average volume of 27,185.

The stronger trading momentum came after the group announced on Tuesday its first quarter net profit jumped 328% to RM12.14 million from RM2.84 million a year earlier, thanks to higher profit margins despite lower sales volume. Quarterly revenue rose to RM238.83 million from RM237.5 million previously.

Perstima said revenue from its Vietnam operations increased 19.7% year-on-year, thanks to higher sales volume with a higher selling price. In Malaysia, revenue decreased 6.8% due to lower sales volume despite a higher selling price.

Nonetheless, despite the strong increase seen, Perstima’s share price has retreated about 18.3% from a year ago.

      Print
      Text Size
      Share