Melewar Industrial Group Bhd (-ve)
SHARES of Melewar Industrial Group Bhd (fundamental: 0.55/3; valuation: 0.9/3) rose 1.5 sen or 4.3% to close at 36.5 sen, with some 2.3 million shares exchanged, triggering our momentum algorithm for the sixth time this year.
For the second quarter ended Dec 31, 2015, Melewar reported net profit of RM3.48 million, from a net loss of RM3.64 million in the previous year, despite a 20% decline in revenue to RM146.90 million, from RM183.52 million.
For the cumulative six-month period, the group registered RM4.95 million in net profit, compared to RM25.12 million in net loss a year earlier. Revenue for the period fell 17% to RM281.68 million from RM340.26 million.
Melewar trades at 0.3 times its book value. The company has not paid any dividends since 2011.
MELEWAR (3778) - Stock With Momentum: Melewar Industrial Group
MELEWAR (3778) - Stock With Momentum: Melewar Industrial Group http://www.theedgemarkets.com/my/article/stock-momentum-melewar-industrial-group-0
