Quick take: IFCA rallies 19% on higher earnings
KUALA LUMPUR: IFCA MSC Bhd’s shares have been on an uptrend since January but rallied the most after posting higher earnings in its fourth quarter ended Dec 31, 2018.
IFCA, one of the most active counters, surged 19.61%, or five sen to 30.5 sen with 27.8 million shares traded. It is trading at a P/E Ratio of 12.75 times.
The group saw its net profit jumped 142% to RM9.01mil in the fourth quarter ended Dec 31 compared with RM3.72mil a year prior.
Its revenue rose 27.2% to RM33.02mil against RM25.93mil in the same period a year ago
For the full financial year ended Dec 31, 2018 (FY18), IFCA posted a net profit of RM12.07, up 25% from RM9.65mil achieved a year ago, while revenue grew marginally by 5.79% to RM93.97mil versus RM88.82mil previously
IFCA has also proposed a first and final single-tier dividend of 1.0 sen per share in respect of the FY18, subjected to shareholders’ approval at its annual general meeting.