SO BIG Fluctuation....
Nexgram 4Q earnings fall 77% on higher expenses and tax
By Chester Tay / theedgemarkets.com | June 30, 2015 : 7:51 PM MYT
KUALA LUMPUR (June 30): Telecommunication software services provider cum property developer Nexgram Holdings Bhd ( Financial Dashboard) saw its fourth quarter ended Apr 30, 2015 (4QFY15) net profit shrink 77.4% to RM2.08 million from RM9.19 million a year ago, on higher operating expenses and tax.
Consequently, the group’s earnings per share (EPS) fell to 0.14 sen, from 0.97 sen.
In its quarterly report to Bursa Malaysia, Nexgram (fundamental: 2.1; valuation: 1.7) posted a revenue of RM19.34 million for 4QFY15, down 12.9% from RM22.18 million in 4QFY14, mainly due to the decrease in sales of the group’s products and services.
Cumulatively, Nexgram’s FY15 net profit was halved to RM6.98 million, from RM14.28 million in FY14, even though revenue rose 32.6% to RM135.34 million from RM102.07 million in FY14 due to revenue generated from the acquisition of Sensorlink Group.
On prospects, the management merely listed out their property development projects in Putrajaya and Cyberjaya, which have a combined gross development value of RM1.44 billion.
Nexgram closed unchanged at 10 sen today, with 3.69 million shares traded, giving it a market capitalisation of RM188.24 million.