By Asia Analytica / The Edge Financial Daily | July 14, 2016 : 10:36 AM MYT
This article first appeared in The Edge Financial Daily, on July 14, 2016.
Prestar Resources Bhd (+ve)
SHARES in Prestar Resources Bhd (fundamental, 0.7/3, valuation: 2/3) rose by 3.33% to 62 sen yesterday after 815,400 shares changed hands, a significantly higher trading volume compared with its 200-day average volume of 106,691
In the first quarter ended March 31, 2016 (1QFY16), the group’s net profit rose 21.2% to RM3.15 million from RM2.6 million in the corresponding quarter a year ago, partly due to its share of gain from an associate, which reported gains due to a stronger ringgit.
However, its quarterly revenue came in 13% lower at RM144.97 million from RM166.61 million in 1QFY15, due to slower market demand and depressed steel prices during the better part of the quarter.
Prestar’s share price has gained 29.17% year-to-date. At its current level, Prestar has a decent dividend yield of 3.23%, while trading at a trailing price-earnings ratio of 9.67 times, with a market capitalisation of RM108.68 million.
PRESTAR (9873) - Stock With Momentum: Prestar Resources