Trading interest in Eduspec surges

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KUALA LUMPUR (Nov 28): Trading interest in Eduspec Holdings Bhd spikes today. Its trading volume swells 20 million shares changing hands — the highest level since February.   

Its share price climbs to an intraday high of 31 sen, up 8.8% from the previous day. As at 4.15pm today, Eduspec’s share price was up one sen or 3.5% to 29.5 sen.

The electronic learning provider company is featured as Stock with Momentum by TheEdge Research today.

Eduspec’s share price had hovered at about 26 sen in June, after a strong rally at the start of the year until May. It dropped to an eight-month low of 22 sen in early October. It then bounced back teadily by 34.1% (from 22 sen) to its current level of 29.5 sen.

Year-to-date, its share price had more-than-doubled from 12.5 sen at the beginning of the year.

Eduspec is due to release its full year financial result today.

The company saw a sharp improvement on its third quarter earnings. Its net profit rose by 65.6% to RM3.48 million for the third quarter ended June 30, 2014 (3QFY14), from RM2.10 million; while revenue stood at RM29.37 million, from 22.34 million a year ago.

The positive results were attributable to a rise in sales of education tools for digital schools and dual language lab/ iPad mobility system, which more-than-doubled to RM6.39 million.

Net revenue from complementary business activities due to “higher enrollment in ICT examination”, also rose by 42.9% to RM2.54 million, from RM1.78 million.

However, its accumulative net profit was only RM176,000 for the nine-month ended June 30, compared with net loss of RM478,000 in the previous corresponding period.