Quick take: Prolexus shares jump 22% after delivering strong profit

October 1, 2019 editor Prolexus, Stock On The Move

KUALA LUMPUR: Prolexus Bhd’s stock jumped in early trade Tuesday after the company reported a huge jump in net profit in the fourth quarter ended July 31.

The apparel manufacturer jumped 22.46%, oe 15.5 sen to 84.5 sen, its highest since December 2017. The counter, which has been on an uptrend, is one of the most heavily traded with 7.29 million shares done. It is currently trading at a PE ratio of 19.66 times.

Prolexus-WA added 44.83%, or 6.5 sen to 21 sen.

In the fourth quarter ended July 31, Prolexus posted a net profit of RM7.22mil against RM794,000 in the same period last year.

Its revenue for the period rose 36.1% to RM111.2mil from RM82.2mil in the same corresponding period last year.

For the full financial year ended July 31, Prolexus posted a net profit of RM6.01mil on revenue of RM364.01mil.

Source: TheStar