Malayan Flour Mills Bhd (-ve)
Shares in Malayan Flour Mills Bhd (MFM) (fundamental: 0.55/3, valuation: 1.4/3) triggered our momentum algorithm for the fourth time this year, with trades of 2.08 million shares yesterday versus its 200-day average volume of 186,670. MFM’s share price fell five sen or 3.23% to close at RM1.50.
MFM’s share price has been on the rise since last month, gaining 17% since its closing of RM1.28 on June 30. Year to date, the counter has gained 14%.
Last week, the group increased its stake in Dindings Poultry Processing Sdn Bhd by 1.19%, bringing its shareholding in the subsidiary to 98.89%, to facilitate the group’s expansion of its poultry integration business.
For the first quarter ended March 31, 2016, MFM saw a 227% year-on-year spike in its net profit to RM17.63 million, while revenue climbed 20% to RM666.84 million.
MFM is trading at 1.12 times its net book value. The group paid out a dividend of four sen per share for the financial year ended Dec 31, 2015.
MFLOUR (3662) - Stock With Momentum: Malayan Flour Mills
http://www.theedgemarkets.com/my/article/stock-momentum-malayan-flour-mills-1
