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Hexagon Holdings Bhd has been listed this month (14th April) in Bursa Malaysia and recorded a net profit of RM13.15mil for the 3rd quarter ending December 2007.
After digesting the profit
taking activity of subscribers who got the warrants cheap at the issue
price of 15 sen, Hexagon-WA started to move up again on the back of
rising interest in oil and gas related counters. Hexagon ended trading last week at RM1.76 while its warrant closed at its highest level of 50 sen.
Hexagon’s
core activities are divided into three major segments; engineering
services, manufacturing and trading and services. Its engineering
division offers a full range of plant and process engineering services
to its customers.
On the manufacturing front, Hexagon aims to be
the leading total solutions provider in composites, corporate signages,
and shop-fitting products, and the niche segment manufacturer in
lead-frame products.
Hexagon’s trading and services division
supplies flow control equipment to oil and gas, chemical, petrochemical
and semiconductor industries. Hexagon has grown remarkable over the
last few years and now has operations in many countries across the
region.
As most of Hexagon’s customers are in the oil and gas
industry and the bulk of its contracts are from petrol retail segment,
Hexagon’s performance is somewhat correlated to that of the oil and gas
sector.
In the first three quarters ended December 2007, Hexagon
recorded a net profit of RM13.15mil, which is about 7.5% higher than
RM12.24 achieved during the same period last year. Revenue actually
grew at a faster rate of 26.3% during the same period to RM284.4mil
from RM225.1mil.
PetrolWorld 260408
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