Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on October 19, 2016.

 

Prolexus Bhd (+ve)

SHARES in Prolexus Bhd (fundamental: 2.8/3, valuation: 1.8/3) triggered our momentum algorithm for the first time since June 2, 2015. The counter closed three sen or 1.88% higher at RM1.63 yesterday, with 1.15 million shares traded. In comparison, its 200-day average volume was only 215,978 shares.

The apparel manufacturer posted a net profit of RM9.98 million in the fourth financial quarter ended July 31, 2016 (4QFY16), up 56.9% from RM6.36 million a year earlier, mainly due to increase in profits from the apparel division. Revenue rose 4.4% to RM125.24 million in 4QFY16 from RM119.99 million in 4QFY15.

For the full FY16, Prolexus’ net profit grew 35.6% to RM28.17 million from RM20.77 million in FY15. Revenue rose 15% to RM402.74 million from RM350.34 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 9.86 times and is at 1.39 times its book value. It has a trailing 12-month dividend yield of 1.74%. Year to date, the counter has fallen 22.7%.

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