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Powermatic Data shares up 2.6% before trading halt

POWERMATIC Data Systems on Wednesday called for a trading halt pending an announcement. Prior to the halt, Powermatic Data shares were trading 2.6 per cent or five Singapore cents higher at S$1.99.

On Tuesday, the computer components distributor’s shares closed at S$1.86, up eight Singapore cents or 4.3 per cent.

In July, the company posted a 55 per cent rise in net profit to S$7.0 million for fiscal 2019 ended March 31. This was up from S$4.5 million for the previous financial year.

Revenue was also up 30 per cent to S$20.9 million, from S$16.1 million a year ago, mainly from the sale of WiFi modules, embedded boards and other wireless connectivity products. Earnings per share stood at 20.01 Singapore cents, from 12.95 cents the year prior.

sentifi.com

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