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Hot stock: Micro-Mechanics up 6.5%

SHARES of Micro-Mechanics Holdings, a mainboard-listed manufacturer of high precision tools, parts and assemblies for high technology industries, rose by some 6.5 per cent to S$0.655 at 3.35pm on Monday.

Shares opened at S$0.63 on Monday morning, S$0.01 higher than its previous close of S$0.62 on Friday.

Some 312,000 shares changed hands.

On Saturday, the company posted a 96 per cent jump in its net profit to S$2.7 million for the three months ended Dec 31, 2014 (Q2 FY2015), on the back of revenue growth of 23.0 per cent to S$12.9 million, higher gross profit margin of 54.7 per cent and a tight rein on overhead expenses.

Micro-Mechanics also raised its dividend payout to S$0.02 per share for H1 FY2015. This comprises a special dividend of S$0.01 per share on top of an interim dividend of S$0.01 per share, which will be paid on Feb 17.

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