<div>This article first appeared in <em>The Edge Financial Daily</em>, on March 10, 2017.<br />
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<div class=newsTextDataWrapInner><p><strong>EITA Resources Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in EITA Resources Bhd (fundamental: 1.4/3, valuation: 1.2/3) closed down three sen or 2.26% at RM1.30 yesterday, after 422,500 shares changed hands, compared with its 200-day average volume of 55,354 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Last month, the homegrown elevator manufacturer said it was targeting to raise its export contribution to 50% from close to 20% currently, targeting mainly the Asean and Middle Eastern markets.</p></div>

<div class=newsTextDataWrapInner><p>The group’s export revenue grew some 18% in the financial year ended Sept 30, 2016 (FY16), to RM56.3 million from RM47.6 million in FY15.</p></div>

<div class=newsTextDataWrapInner><p>For the first quarter ended Dec 31, 2016, Eita Resources’ net profit jumped near 2.5 times to RM10.43 million, from RM4.24 million, on higher unrealised foreign exchange gain.</p></div>

<div class=newsTextDataWrapInner><p>Quarterly revenue grew 14.7% to RM82.69 million from RM72.09 million, mainly due to higher revenue recorded in its manufacturing and services segments.</p></div>

<div class=newsTextDataWrapInner><p>At the current share price, Eita Resources is trading at 1.21 times its book value.</p></div>


This article first appeared in The Edge Financial Daily, on March 10, 2017.

 

EITA Resources Bhd (-ve)

SHARES in EITA Resources Bhd (fundamental: 1.4/3, valuation: 1.2/3) closed down three sen or 2.26% at RM1.30 yesterday, afte...

Stock With Momentum: EITA Resources

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