KUALA LUMPUR (Dec 16): V.S. Industry Bhd rose as much as six sen or 4% after the electronic-component manufacturer said first quarter net profit rose 71% to RM60.18 million from a year earlier.
Yesterday, VS said net profit in the first quarter ended Oct 31, 2015 compared to RM35.22 million. Revenue was higher at RM612.47 million versus RM544.56 million.
VS said it planned to pay a dividend of 1.5 sen a share for the quarter in review.
Today, VS shares rose to RM1.63, the stock's highest so far. At 10:01am, the stock changed hands at RM1.61 for a market capitalisation of RM1.87 billion.
VS saw some eight million shares transacted, making the stock the eighth most-active entity across Bursa Malaysia.
In a note today, Affin Hwang Investment Bank Bhd retail research vice president Norhashmilaidi Hashim said VS shares' immediate technical support and resistance were seen at RM1 and RM1.60 respectively.
Norhashmilaidi said Affin Hwang had a target price of RM2.45 for VS shares.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)