KUALA LUMPUR (Feb 24): Shares of Axiata Group Bhd climbed on Friday after it reported a stronger set of earnings for FY11 and its dividend of 15 sen per share.
At 9.51am, it was up six sen to RM5.15. There were 3.73 million shares done.
The FBM KLCI rose 1.51 points to 1,558.17. Turnover was 287.81 million shares valued at RM224.33 million. There were 265 gainers, 178 losers and 225 counters unchanged.
Axiata posted net profit of RM544.58 million in the fourth quarter ended Dec 31, 2011 compared with net loss of RM367.04 when it was affected by impairment charge on investment in India.
For FY11, its net profit rose 32.5% to RM2.345 billion from RM1.770 billion. Its revenue increased by 5.29% to RM16.447 billion from RM15.620 billion.
HwangDBS Vickers Research lifted its sum-of-parts based target price to RM5.15.
The research house said it expected medium-to-long term growth should see upside from cost savings in infrastructure sharing and outsourcing, falling capex and reaching a critical mass in data users, resulting in recovering EBITDA margins.
At 9.51am, it was up six sen to RM5.15. There were 3.73 million shares done.
The FBM KLCI rose 1.51 points to 1,558.17. Turnover was 287.81 million shares valued at RM224.33 million. There were 265 gainers, 178 losers and 225 counters unchanged.
Axiata posted net profit of RM544.58 million in the fourth quarter ended Dec 31, 2011 compared with net loss of RM367.04 when it was affected by impairment charge on investment in India.
For FY11, its net profit rose 32.5% to RM2.345 billion from RM1.770 billion. Its revenue increased by 5.29% to RM16.447 billion from RM15.620 billion.
HwangDBS Vickers Research lifted its sum-of-parts based target price to RM5.15.
The research house said it expected medium-to-long term growth should see upside from cost savings in infrastructure sharing and outsourcing, falling capex and reaching a critical mass in data users, resulting in recovering EBITDA margins.
