Clothes maker Prolexus rises on profit jump

KUALA LUMPUR (Sept 30): Prolexus Bhd's share price rose over 20% to become Bursa Malaysia's top gainer in morning trade today after the apparel manufacturer reported yesterday that its fourth-quarter and full-year net profit more than doubled from a year earlier.

At 9.03am today, Prolexus' share price had climbed 19 sen or 24.36% to 97 sen.

At 97 sen, Prolexus had a market capitalisation of about RM169.77 million.

Yesterday, the company said in a Bursa filing that its net profit rose to RM23.88 million for the fourth quarter ended July 31, 2020 (4QFY20) from RM7.22 million a year earlier.

For the full year, the firm said its FY20 net profit climbed to RM17.63 million from RM6.01 million a year earlier.

Prolexus' latest-reported net assets per share stood at RM1.41.