This article first appeared in The Edge Financial Daily, on June 9, 2016.
Land & General Bhd (+ve)
SHARES in Land & General Bhd (fundamental: 2.7/3, valuation: 2.4/3) triggered our momentum algorithm for the first time. The stock price went up one sen or 2.53% to close at 40.5 sen yesterday, with 6.4 million shares traded. This compared to its 200-day average volume which is at 1.28 million shares.
The property developer and education provider saw its net profit jump 674.4% year-on-year to RM54.98 million in the fourth quarter ended March 31, 2016 (4QFY16), from RM7.1 million, on higher profit from the property division. Revenue rose 226.7% to RM184.19 million from RM56.37 million.
For its financial year ended March 31, 2016 (FY16), L&G’s net profit fell 9.85% to RM95.05 million, from RM105.43 million due to lower results from the property division. Revenue declined 26.5% to RM342.06 million from RM465.37 million. L&G has recommended a single-tier final dividend of two sen for FY16.
L&G (3174) - Stock With Momentum: Land & General