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Saturday February 18, 2012

Perisai active ahead of results release

PETALING JAYA: Some 50 million shares representing a 5.87% stake in Perisai Petroleum Bhd changed hands off-market yesterday at an average price of 88 sen.

The trades worth RM44mil come just ahead of the release of its full year financial results next week, which analysts are widely expecting to show record earnings.

Its shares ended six sen, or 6.49%, up to 98.5 sen, but touched an all-time high of RM1 during the day. The oil and gas services company has gained 24.68% year-to-date.

Based on 851.78 million shares out yesterday, Perisai has a market capitalisation of RM839mil.

In a note to clients, CIMB Research said the company could post fourth-quarter earnings of RM10mil to RM12mil, which was a year-on-year growth of 55%, and core net profit of RM35mil for its financial year ended Dec 31, 2011.

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