CAREPLS (0163) - Stocks With Momentum: Careplus
April 6, 2015 : 10:21 AM MYT
Careplus Group Bhd (-ve)
CAREPLUS (Fundamental: 0.6/3, Valuation: 1.5/3) manufactures latex gloves under its house brands — Rubbercare and Guardian.
Its share price jumped 5.5% last Friday, closing at an all-time high of 57.5 sen, after the company announced a proposed 1-for-2 bonus issue on April 2.
For the 12-months ended December 2014, revenue increased 17.9% to RM152.1 million, as compared to RM129.1 million for 11-months ended December 2013. Net profit, however, more than doubled from RM1.3 million to RM3.3 million over the same period — thanks to greater economies of scale.
As at end-2014, Careplus has 3 factories with 20 production lines and annual production capacity of 2.4 billion pieces of gloves. Its subsidiary, Careglove Global, is expected to complete construction of a second plant in 3Q2015, which will expand its capacity by 3 additional production lines.
Careplus had proposed 0.25 sen per share dividend for 2014. The entitlement date is yet to be fixed.
http://www.theedgemarkets.com
