Grand-Flo Bhd (-ve)
SHARES in Grand-Flo Bhd (fundamental: 1.45/3, valuation: 0.3/3) slipped 1.89% to 26 sen last Friday, after 4.9 million shares were traded, over 10 times its 200-day average volume of about 341,628 shares.
The group was last featured as a “Stock with Momentum” just a week ago, when it closed unchanged at 26 sen, after gaining 8.3% earlier in the week.
The slight decline in its share price happened a day after its net profit for the second quarter ended June 30, 2017 (2QFY17) was released, when net profit jumped by about 152 times to RM4.9 million from RM32,000 in 2QFY16.
The strong improvement was mainly due to a gain on the disposal of shares in Simat Technologies Public Company Ltd. Excluding the one-off gain, the group’s quarterly profit before tax (PBT) would have fallen by 89.7% from a year earlier.
Year to date, the stock has surged 44.4%, giving it a market capitalisation of RM123.9 million.