IRETEX (7183) - Stocks With Momentum: Ire-Tex
Ire-Tex Corporation Bhd (-ve)
IRE-TEX (Fundamental: 1.4/3, Valuation: 2/3) is primarily involved in designing, testing and manufacturing of polymer-based protective packaging products. The company’s shares closed 6.02% lower at 39 sen yesterday.
Between FY2010 and FY2013, Ire-Tex’s revenue remained volatile within RM99.4 million to RM128.9 million, while net profit was within RM1.0 million to RM3.2 million.
For FY2014, revenue declined 6.3% y-y to RM108.2 million, but net profit was up 173% to RM3.0 million, attributed to RM11.3 million gain on disposal of property.
The company also diversified its business into industrial automation solutions and services upon acquiring Zoomic Automation (M) Sdn Bhd in April last year, but was loss-making as end-FY2014.
On February 10, 2015, Ire-Tex had proposed to acquire two pieces of land in Johor Bahru, and build two factories on those land, for a total cost of RM5.6 million. The stock is currently trading at trailing 12-month P/E of 15.3 times and 0.6 times book-value.
This article first appeared in The Edge Financial Daily, on April 10, 2015.
http://www.theedgemarkets.com
Ire-Tex Corporation Bhd (-ve)
IRE-TEX (Fundamental: 1.4/3, Valuation: 2/3) is primarily involved in designing, testing and manufacturing of polymer-based protective packaging products. The company’s shares closed 6.02% lower at 39 sen yesterday.
Between FY2010 and FY2013, Ire-Tex’s revenue remained volatile within RM99.4 million to RM128.9 million, while net profit was within RM1.0 million to RM3.2 million.
For FY2014, revenue declined 6.3% y-y to RM108.2 million, but net profit was up 173% to RM3.0 million, attributed to RM11.3 million gain on disposal of property.
The company also diversified its business into industrial automation solutions and services upon acquiring Zoomic Automation (M) Sdn Bhd in April last year, but was loss-making as end-FY2014.
On February 10, 2015, Ire-Tex had proposed to acquire two pieces of land in Johor Bahru, and build two factories on those land, for a total cost of RM5.6 million. The stock is currently trading at trailing 12-month P/E of 15.3 times and 0.6 times book-value.
This article first appeared in The Edge Financial Daily, on April 10, 2015.
http://www.theedgemarkets.com
