However, Jadi pared its gains to trade at 11 sen per share as at 11.43am. The top active counter in the local bourse today saw 44.82 million shares changed hands.
Alliance Investment Bank remisier Raymond Foo said that the rise of the share price was mainly due to active trading and positive financial results.
"The earnings per share of 0.5 sen for the quarter, and 0.81 sen for the 12 months are quite decent for a small cap company like Jadi," Foo added.
Jadi's market capitalisation stood at RM103.6 million.
Jadi registered a net profit of RM4.74 million for the three-month period from Oct 1 to Dec 31, 2015 from a net loss of RM2.94 million for the same period in the previous year. Revenue came in at RM22.04 million, up by 56.05% compared to RM14.13 million a year ago.
For the 12-month period, the group's net profit came in at RM7.12 million from a net loss of RM2.91 million in the previous year. Meanwhile, revenue expanded by 8.84% to RM77.77 million from RM71.45 million a year ago.
The group has changed its financial year end to March 31, 2016 from Dec 31, 2015.
In a filing to the Bursa yesterday, Jadi said the strong results was driven by the increase in sales of black and colour toner, lower production cost due to improved productivity thus lower overhead cost and further costs savings from in-house produced resin, weaker ringgit vis-à-vis the US dollar.
Currently 97% of Jadi's sales are from export sales and pegged in the US dollar, it added.
http://www.theedgemarkets.com/my/article/jadi-imaging-shares-soars-20-active-trading-positive-financial-results
