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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.

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