secured RM130.8 mil contract yesterday, this counter expands to the infrastructure segment already, not only doing affordable housing construction, after PN17 upliftment, fly 🚀
The company has not been reporting a full profitable financial year since 2016. The current FY will likely mark a turning point for the company. Waiting for the full year result to be announced in Feb 2024.
The company will report record or highest quarterly profit in excess of RM55m next month arising from the recently completed corporate exercise. So the share price may be on the way to the moon soon.
This is very much undervalued given that it will be uplifted from PN17 classification in a few months' time and it has already started reporting profits again. Furthermore, its existing orderbook provides clear visibility for the next few years. It's an underappreciated gem.
https://klse.i3investor.com/web/stock/financial-quarter/4847 As a matter of facts, Epicon reported profits in the last 3 quarters since 4th quarter of 2022. Anyway, some may be willing to hold for another few months as long as there is money to make...😂
All in all, the company has about RM710 mil contracts on hands which shall translate into annual turnover of at least RM200 mil per annum from 2024 onwards, not to mention that more contracts can be secured in the next 12 months. Hence, pretty exciting and robust growth for a smallish company like this. Hopefully it would start registering pretax profit of RM20 mil or higher per annum from 2024 onwards.
The ceo during last AGM did mentioned that they expect the company value to be around 500million by mid of 2024. Sort of commitment to turn the share price around 70cent by then.
The CEO is obviously on his steady path to deliver his visions for the company, not forgetting that the company is also in good position to secure more projects and probably some projects from Lagenda Properties Bhd...
As expected, the group reported PAT of RM59m for the Q3. For YTD, it reported PAT of RM63.5m for the 9 months period. NAPS improved to positive 10 sen from negative (11 sen) 9 months ago. Great result.
With the underground utilities work awarded in October 2023, the Group also marks its first foray into civil and infrastructure work, expecting to secure more contracts from this segment in the near term. [ Haha, more good news in the pipeline? ]
Just have to wait a little bit longer for more jobs or good news to be announced. PN17 declassification is around the corner, not later than end of Feb 2024. Three months will be just nice for the share price to inch up gradually in a sustainable fashion.
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Scaby
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Posted by Scaby > 2023-08-25 10:16 | Report Abuse
PP 0.16 dumpin on u