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NM Group Bhd’s net profit up 69.5% to RM103.42mil in the third quarter ended Sept 30

From "The Star News Paper"

KNM Group Bhd’s net profit surged 69.5% to RM103.42mil in the third quarter ended Sept 30 from RM61mil a year ago mainly due to contribution from Borsig Group for the full quarter.

Announcing the strong set of results at midday on Wednesday, it said revenue jumped 93% to RM746.2mil from RM386.33mil. Earnings per share was 2.73 sen versus 1.66 sen.

KNM said compared with Q2, the Q3 group revenue of RM746.20 million and net profit of RM103.42mil for were higher by 24.49% and 7.40% mainly due to contribution from Borsig Group for the full quarter.

For the nine months, net profit surged to RM253.83mil from RM136.39mil while revenue jumped to RM1.67bil from RM911.4mil.

“The board is confident that the group’s results for the FY ending Dec 31, 2008 will exceed the financial performance of the group for FY ended Dec 31, 2007,” it added.

Look like it's a good news come out from KNM, but share price may no up more due to market situation and KLCI performance. For me RM 0.550 still is a good price to keep KNM share for 1-2 months befor March 2009.


Ivan November 27, 2008 at 1:14 AM  

Hi Sir,

I do agree with your point.
In this market situation, a company can annouce a +ve profit is good. But for KNM, it annouce a profit more than a previous same Q one...it mean 2x good :D

Anyhow , may I know why you say before March 2009? What happen after march 2009? Profit KNM will drop due eco downturn?

Durian Edge November 27, 2008 at 8:08 AM  

Hi Ivan

KNM profit will not drop when come to March 2009 and oil price will up again during that time also, if may calculation is correct.

Gold price is already up soon the oil will follow.

At march 2009, Malaysia politic will see PM change to under Najib hand from Abdullah and this will effect most of the "Ketua Bahagia UMNO" and they holding a lot of KNM share.

They did not buy the share but get free when KNM share price split. This part of the "politic wang isue" So when politic change hand they will sale out they share to get the money like what happen KNM share drop from RM 1.00 to now.

Foreign share holder only sale off few % actually the big saler is UNMO.

Ivan November 27, 2008 at 9:28 PM  

Hi Durian Edge,

Thank you for your good explanation . Seem like prior the gov change hand, KNM will go down further more.

Seem many thing cannot only know between market, but we do know about "politic" as well.

Thank you

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