This article first appeared in The Edge Financial Daily, on August 28, 2017.
Eonmetall Group Bhd (+ve)
SHARES in Eonmetall Group Bhd (fundamental: 0.65/3, valuation: 2/3) grew 3.8% to 82 sen last Friday, after about 5.2 million shares were traded. In comparison, the group’s 200-day average volume was about 994,696 shares.
Net profit for the second quarter ended June 30, 2017 (2QFY17) jumped 44.1% to RM5.8 million from RM4 million in the corresponding quarter a year ago, mainly on improvements in its machinery and equipment segment. Revenue was up 4% at RM27.7 million from RM26.6 million previously.
Year to date, its share price has surged by 39%. At its current level, Eonmetall is trading at a trailing price-earnings ratio of 15.2 times, giving it a market capitalisation of RM138.3 million.