Kanger International Bhd (+ve)
SHARES of Kanger International Bhd (fundamental: 1.90/3; valuation: 1.10/3) triggered our momentum algorithm for the second time this year, following trades of 13.6 million shares last Friday, compared to its 200-day average volume of 1.8 million shares. The counter closed 1 sen or 6.25% higher at 17 sen.
For the fourth quarter ended Dec 31, 2015, Kanger saw a 348% surge in its net profit to RM8.61 million, compared to RM1.92 million in the previous year, boosted by higher exports as well as a net unrealised gain on foreign exchange of RM5.1 million.
Revenue for the quarter rose 10% to RM21.60 million, from RM19.68 million.
For the cumulative full-year period, net profit gained 39% to RM9.75 million from RM7.02 million in the previous year, while revenue was slightly lower at RM66.32 million, from RM66.72 million.
KANGER (0170) - Stock With Momentum: Kanger International
Kanger currently trades at 1.1 times book value. The group has not paid dividends since its listing in December 2013.
http://www.theedgemarkets.com/my/article/stock-momentum-kanger-international-0