LBS Bina Group Bhd (+ve)
SHARES of property developer LBS Bina (Fundamental: 1/3, Valuation: 3/3) rose 2.94% or four sen to close at RM1.40 yesterday, with 3.16 million shares changing hands.
The company’s most recent announcement was the release of its fourth quarter ended Dec 31, 2015 (4QFY15) results on Feb 25.
For 4QFY15, revenue grew 10.7% year-on-year to RM190 million, from RM171.6 million a year ago. However, net profit fell 1.6% to RM23.0 million, due to higher tax expense. For full year 2015, LBS Bina
achieved sales of RM1.03 billion.
Going forward, the company plans to launch its new projects in the Klang Valley, Pahang and Johor, and will continue to source for strategic development lands. LBS Bina is confident of achieving further improvement in financial performance for 2016, underpinned by unbilled sales of RM1.07 billion as at Jan 31, 2016 and new project launches this year.
The stock trades at a trailing 12-month P/E of 9.7 times, and 0.7 times book.
http://www.theedgemarkets.com/my/article/stock-momentum-lbs-bina-group
