Anzo Holdings Bhd (+ve)
SHARES of Anzo (Fundamental: 1.2/3, Valuation: 0.3/3), formerly known as Harvest Court Industries Bhd, closed unchanged at 24.5 sen yesterday, with 7.75 million shares traded.
The company had, on Feb 26, announced its results for the third quarter ended Dec 31, 2015 (3QFY16). Anzo posted a wider net loss of RM4.9 million compared to RM2.7 million a year ago. The loss was due mainly to a RM1.1 million forfeiture of deposit and share options granted under its share issuance scheme amounting to RM2.8 million. Revenue, however, grew 64% year-on-year to RM1.8 million from RM1.1 million a year ago.
Anzo is principally involved in manufacturing timber doors, offering kiln-drying services and sawmilling, as well as marketing sawn timber.
Going forward, Anzo will continue to build the competitiveness of its timber services and construction business, while remaining focused on operational efficiency and productivity to achieve satisfactory results in FY17.
http://www.theedgemarkets.com/my/article/stock-momentum-anzo-holdings
