KUALA LUMPUR (Feb 3): Shares of hard-disk drive (HDD) maker JCY International Bhd extended their gains on Friday ahead of the release of the earnings for the first quarter ended Dec 31, 2011.
JCY added seven sen to RM1.40 while JCY-CD rose seven sen also to 69.5 sen in very active trade.
The FBM KLCI was in positive territory, up2.18 points to 1,539.27. Turnover was 1.88 billion shares valued at RM1.43 billion. There were 377 gainers, 444 losers and 323 stocks unchanged.
It is expected to release its earnings next week. In early January, it stated the group was likely to record a surge in earnings for the quarter ended Dec 31, 2011.
JCY had also said that based on current available information, the group was likely to record an increase in net profit for the financial quarter ended Dec 31, 2011 “of approximately 1,900%” compared with a year ago where net profit was RM7.5million.
For the quarter ended Dec 31, 2011, it expected net profit to be an increase of 460% compared with the quarter ended Sept 30, 2011’s net profit of RM26.4million.
JCY cited the surge in earnings to an increase in average selling prices caused by component shortages arising from the October 2011 floods in Thailand; effective product mix; appreciating US dollar against the ringgit and continuous efficient cost management.
JCY added seven sen to RM1.40 while JCY-CD rose seven sen also to 69.5 sen in very active trade.
The FBM KLCI was in positive territory, up2.18 points to 1,539.27. Turnover was 1.88 billion shares valued at RM1.43 billion. There were 377 gainers, 444 losers and 323 stocks unchanged.
It is expected to release its earnings next week. In early January, it stated the group was likely to record a surge in earnings for the quarter ended Dec 31, 2011.
JCY had also said that based on current available information, the group was likely to record an increase in net profit for the financial quarter ended Dec 31, 2011 “of approximately 1,900%” compared with a year ago where net profit was RM7.5million.
For the quarter ended Dec 31, 2011, it expected net profit to be an increase of 460% compared with the quarter ended Sept 30, 2011’s net profit of RM26.4million.
JCY cited the surge in earnings to an increase in average selling prices caused by component shortages arising from the October 2011 floods in Thailand; effective product mix; appreciating US dollar against the ringgit and continuous efficient cost management.
