This article first appeared in The Edge Financial Daily on October 1, 2019
Prolexus Bhd (-ve)
TRADING of shares in Prolexus Bhd (fundamental: 1.55/3, valuation: 1.2/3) triggered our momentum algorithm yesterday for the first time this year.
The apparel maker’s share price closed three sen or 3.55% higher at 69 sen after some 1.95 million shares were traded, 19 times higher than its 200-day average trading volume of 101,387 shares.
It announced yesterday a net profit of RM7.22 million for the fourth quarter ended July 31, 2019 (4QFY19), nine times higher than the RM794,000 it charted a year ago — thanks to higher capacity utilisation at its apparel division, which also led to an improvement of its profit margin.
Quarterly revenue rose 36.14% to RM111.93 million against RM82.21 million a year earlier.
However, despite the strong 4QFY19, its net profit for the full FY19 fell 24.85% to RM6.01 million from RM8 million a year ago, even though revenue grew 20.26% to RM364.01 million from RM302.69 million.