Kanger International Bhd (+ve)
SHARES of Kanger International Bhd (fundamental: 1.9/3; valuation: 1.1/3) triggered our momentum algorithm for the second consecutive day, as the stock price rose as much as 3 sen or 15.79% to 22 sen, where it settled until closing hours, with 16.57 million shares traded.
This is the third time the counter has triggered the momentum algorithm since April.
The integrated bamboo product manufacturer and supplier posted a net profit of RM8.61 million in the fourth quarter ended Dec 31, 2015 (4QFY15), up 4.48 times from RM1.92 million a year ago, mainly on sales of higher margin products, and a net unrealised gain on foreign exchange of RM5.1 million; revenue grew 9.76% to RM21.6 million from RM19.68 million.
For the full year, Kanger’s net profit rose 38.89% to RM9.75 million from RM7.02 million in FY14, though revenue was flattish at RM66.32 million, compared to RM66.72 million previously. Kanger is trading at a trailing 12-month P/E ratio of 11.78 times and is at 1.38 times its book value.
KANGER (0170) - Stock With Momentum: Kanger International
http://www.theedgemarkets.com/my/article/stock-momentum-kanger-international-1
