KUALA LUMPUR (Aug 19): Pan Malaysia Corporation Bhd saw its net profit for the second quarter ended June 30, 2015 (2QFY15) jump over 20 times to RM2.23 million, from a mere RM106,000 a year ago, mainly driven by higher sales and gain on foreign exchange.

Earnings per share increased to 0.32 sen, from 0.01 sen.

In its quarterly results filed to Bursa Malaysia today, Pan Malaysia (fundamental: 0.4; valuation: 0.0) posted a revenue of RM17.05 million in 2QFY15 — a 19.86% increase from RM14.22 million last year.

For the first half of FY15 (1HFY15), the group posted a net profit of RM2.94 million, rising 64.24% from RM1.79 million a year ago, while revenue increased by 6.3% to RM33.40 million, from RM31.41 million.

Despite the improved performance, Pan Malaysia said it foresees global market conditions to remain challenging, in general.

Nevertheless, it pledged to continue improving the group’s sales and margins through export development, distribution network enhancement, cost control and productivity improvement.

Pan Malaysia’s share price fell half sen or 2.17% to 22.5 sen today, giving it a market capitalisation of RM213.64 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)