By Asia Analytica / The Edge Financial Daily | July 25, 2016 : 10:54 AM MYT
This article first appeared in The Edge Financial Daily, on July 25, 2016.
Gadang Holdings Bhd (+ve)
A 6.44% jump in Gadang Holdings Bhd’s (fundamental: 2.6/3, valuation: 1.8/3) share price last Friday triggered our proprietary algorithm for the third time this year. It was first picked for Stocks with Momentum on June 7.
Gadang shares closed at their highest point this month at RM2.48 after 13.56 million shares changed hands. In comparison, it has a 200-day average volume of 1.73 million.
Gadang is an earthwork and civil engineering services provider. It announced last Thursday its net profit for the fourth quarter ended May 31, 2016 grew 20% to RM30.5 million from RM25.4 million in the previous year, on improved margins from construction activities and higher contributions from its property division. Revenue for the quarter jumped 47% to RM248.9 million from RM169.8 million previously.
Annual net profit spiked 58% to RM94.2 million from RM59.6 million, while revenue gained 15% to RM676.1 million from RM587.4 million.
GADANG (9261) - Stock With Momentum: Gadang Holdings