BP Plastics Holding Bhd (-ve)

BP Plastics Holding Bhd (fundamental: 2.05/3, valuation: 2/3) shares settled five sen or 4.56% higher at RM1.14 yesterday, with a market capitalisation of RM213.92 million.

It saw 574,300 shares crossed, over 10 times its 200-day average trading volume of 55,935 shares.

The polyethylene film-maker turned in a near-triple net profit in the second quarter ended June 30, 2018 of RM4.75 million, from RM1.63 million in the same quarter last year. Revenue rose 11.8% to RM82.56 million from RM73.83 million.

BP Plastics attributed the improved earnings to higher sales, a better product mix and cost savings achieved from better production efficiencies.

It expects domestic and external packaging demand to remain resilient in the second half of this year, and to deliver a profitable set of full-year results.