Cepatwawasan Group Bhd (+ve)
SHARES in Cepatwawasan Group Bhd (fundamental: 0.85/3, valuation: 2/3), which triggered our momentum algorithm yesterday for the first time this year, closed 4.5 sen or 4.79% higher at 98.5 sen.
It saw 13 million shares traded, compared with its 200-day average volume of 680,584 shares.
The Sabah-based palm oil company’s net profit jumped 91% to RM9.68 million for the second quarter ended June 30, 2017, from RM5.07 million a year earlier, as revenue grew 37% to RM70.35 million from RM51.28 million.
The group attributed the improved quarterly earnings mainly to an increase in the sales volume of crude palm oil by 33%, palm kernel by 32%, and fresh fruit bunches (FFB) by 46%.
FFB production was also up 15%, while a better milling margin and higher exports of electricity and empty fruit bunch oil selling prices also boosted profits. The stock is trading at 0.6 times its book value.
Stock With Momentum
http://www.theedgemarkets.com/article/stock-momentum-cepatwawasan-group-1
