George Kent (M) Bhd (-ve)
SHARES of George Kent (M) Bhd (fundamental: 2.1 /3, valuation: 2.4/3) triggered our momentum algorithm for the first time this year. The counter gained 18 sen or 8.8% to RM2.22 yesterday, with some 7.8 million shares traded.
George Kent’s subsidiaries are involved in the manufacturing and trading of water-related products such as metres, waterwork fittings, as well as the construction of civil and structural works. On July 19, the group proposed a one-for-four bonus issue, involving up to 75.1 million new shares.
The group reported a 52% jump in net profit to RM15.01 million for the first quarter ended April 30, 2016, from RM9.87 million in the previous corresponding quarter, as revenue from its engineering division spiked 169%.
Its latest quarterly revenue doubled to RM122.96 million, from RM59.03 million in the same period a year ago, to steady progress of ongoing projects in its engineering division.
The stock is currently trading at two times its book value.
GKENT (3204) - Stock With Momentum: George Kent (M)
http://www.theedgemarkets.com/my/article/stock-momentum-george-kent-m
