Stocks to Watch - Lafarge, Matrix, Crest Builder, OSK Ventures, Daya, AirAsia X, TSH, Alam Maritim, Tambun Indah, Patimas, Octagon

KUALA LUMPUR (Nov 19): Based on corporate results announced, the stocks that could stir on Nov 20 are Lafarge, Matrix, Crest Builder, OSK Ventures, Daya, AirAsia X, TSH Resources, Alam Maritim and Tambun Indah.

Lafarge Malaysia Bhd posted a net profit of RM120.2 million for its third quarter to September 2013, up by 25% from RM96.4 million recorded in similar quarter last year. Earnings per share rose to 14.2 sen, up from 11.3 sen in previous year quarter.

Revenue for the third quarter this year also rose to RM728.0 million, from RM708.8 million.
The company said higher sales in cement and concrete, as well as improved plant performance, had led to this set of better earnings.

As result, the company declared an interim dividend of 8 sen per share, to be paid on January 22.

For the nine months to September 2013, profits were higher at RM255.96 million while revenue stood at RM2.10 billion, compared to a year ago.

Matrix Concepts Holdings Bhd posted a net profit of RM36.2 million for the third quarter to September 2013, which resulted in earnings per share of 12.1 sen.

This was achieved on the back of revenue of RM127.4 million, Bursa Malaysia was told.

There were no comparable figures a year ago as this property company was listed this year.

For the nine months to September, total profits stood at RM112.2 million while revenue totalled RM430.3 million.

The company declared an interim dividend of 5 sen and a special dividend of 5 sen, to be paid on Jan13, 2014.

In a separate press statement, the company said: “Our positive performance is reflected in the rising take-up of our industrial properties and residential projects.”

Crest Builder Holdings Bhd’s net profit rose 45% year-on-year to RM5.7 million in the third quarter ended September 30, 2013 from RM3.9 million. But revenue fell 54% to RM67 million from RM146 million.

The construction and engineering firm attributed the larger profit to higher margins from projects in the reviewed quarter.

Crest Builder said the fall in revenue was due to completion of certain projects at the end of last year.

For the nine-month period, net profit was higher at RM33 million versus RM13 million a year earlier while revenue declined to RM243 million from RM392 million.

OSK Ventures International Bhd posted a net profit of RM27.5 million for its third quarter to September 2013, compared to loss of RM15.4 million in similar quarter a year ago.

Earnings per share was 14.06 sen for the quarter.

Its revenue for the quarter also rose to RM2.3 million, from RM904,000 in the third quarter of 2012.

The company said its high profit for the quarter was due to “higher net fair value gain from the quoted investments in the portfolio”.

Daya Materials Bhd’s net profit rose 14% year-on-year to RM7 million in the third quarter ended September 2013, from RM6 million a year earlier.

Revenue increased 95% to RM142 million from RM73 million.

Daya Materials attributed the improvement in profit to higher sales from the subsea offshore business under the group's oil and gas (O&G) segment.

The O&G support-services firm said the segment posted a 515% increase in revenue. This was due to sales recognition from the offshore cable-laying project.

Cumulatively, Daya Materials recorded net profit of RM19 million in the nine months from RM15 million a year earlier. Revenue was higher at RM374 million versus RM179 million.

AirAsia X Bhd’s net profit plunged by 45.9% for the third quarter ended Sept 30 (3Q13) due mainly to extensive promotional campaigns.

The group reported net profit of RM26.44 million for 3Q13, compared to RM48.85 million posted in the third quarter of last year.

However, revenue for the quarter soared to RM601.49 million, up from RM486.55 million in the same period last year.

“As a result of promotional campaigns for both matured and newly launched routes, revenue per available seat-kilometer (RASK) decreased 1.6% from 12.15 sen for the quarter ended Sept 30, 2012 to 11.95 sen in the 3Q13,” the budget long-haul airline said in its notes accompanying results to Bursa Malaysia.

But for the nine months to September (9M13), AirAsia X’s profit surged to RM44.3 million, up by 124.5% from RM19.8 million in the same period last year. Revenue climbed to RM1.62 billion from RM1.42 billion previously.

TSH Resources Bhd reported a net profit of RM83.2 million for the third quarter to September 2013 (3Q), registering an increase of 409% from RM16.3 million posted in similar quarter in the previous year.

But revenue for 3Q fell to RM219.3 million from RM260.4 million in the preceding year.

“The increase in profit was attributed to the gain on disposal of investment securities in Pontian united Plantation Berhad, higher crop production and higher contribution from the share of profit in the jointly controlled entities,” the company said.

For the cumulative nine months, profits rose to RM120.4 million from RM46.0 million in the preceding year corresponding period. Revenue for the nine months fell to RM738.1 million from RM 766.8 million.

Alam Maritim Resources Bhd reported a much higher net profit of RM21.7 million for the third quarter ended Sept 30 (3Q13), up 39.9% year-on-year.

Revenue also rose sharply to RM179.9 million, from RM116.3 million in the same quarter last year.

For the nine months period (9M13), profit soared by 88% to RM73.4 million from RM39.0 million previously. Revenue increased to RM346.9 million, up from RM335.1 million in the same period last year.

Looking forward, the group expects the oil and gas (O&G) industry to remain robust.
Tambun Indah Bhd’s net profit rose by 58% to RM17.2 million for its third quarter (3Q) ended 30 September 2013.

A dividend of 2 sen per share was announced by the group, to be payable on 18 February 2014.

Revenue also increased to RM97.1 million in 3QFY13, up 27% from RM76.6 million in 3QFY12.

In the nine months to September 2013, net profit increased by 45% to RM42.9 million from RM29.6 million in the previous year corresponding period.

Revenue also increased by 17% to RM258 million from RM221 in 9MFY12.

The positive results in terms of profit and revenue were attributed to improved sales from the group’s residential and commercial properties development in the Pearl City township.

Trading in shares of Patimas Computers Bhd and Octagon Consolidated Bhd, which are PN17 companies, will be suspended on Nov 27, the stock exchange announced.

They could also be de-listed from Bursa Malaysia on Nov 29, unless an appeal is submitted to Bursa Securities on or before Nov 26.

On March 31 last year, Patimas accounts was found in deficit of RM19.9 million, which was below 25% of the issued and paid-up share capital of RM75.79 million.

The stock exchange said Octagon has failed to submit its regularisation plan before the several extended deadlines.


Written by Ho Wah Foon of theedgemalaysia.com