KUALA LUMPUR (Feb 27): Shares in electronic manufacturing services player Ge-Shen Corp Bhd jumped by as much as 5.38% or 14 sen in active trade on Tuesday morning, extending its rally since early of the month.

The counter was among the top gainers by value on Bursa Malaysia on Tuesday, with trading volume standing at 2.23 million so far, relatively eight times higher than its 200-day average volume of 263,566.

The stock opened one sen or 4% higher at RM2.70, against its closing price of RM2.60 on Monday, before jumping by 5.38% or 14 sen higher to trade at RM2.74, valuing the group at RM320.03 million.

The counter had been running up year-to-date, appreciating by 120.17% or RM1.43. Over the past one year, the counter has risen 77.03% or RM1.14.

At the current share price, the counter is trading at a historical price-to-earnings ratio of 13.2 times. It does not have any analyst coverage.

On the financial front, Ge-Shen reported an 85.16% year-on-year jump in net profit for the fourth quarter ended Dec 31, 2023 (4QFY2023), driven by the contribution from the group's newly acquired subsidiary, Kibaru Manufacturing Sdn Bhd.

Net profit was up to RM5.87 million or 4.82 sen per share, from RM3.17 million or 2.88 sen a year earlier, an exchange filing last Thursday showed. Revenue for the quarter slightly increased by 9.38% to RM72.98 million, from RM66.71 million a year earlier.

Notably, this marked Ge-Shen's highest recorded quarterly net profit since 4QFY2016.

The board of Ge-Shen said that for the year ahead, the group had identified potential new growth areas, including to focus on high-tech and medical industries, with several projects expected to qualify and new production ramping up this year.