Dayang Enterprise Holdings Bhd (-ve)
TRADING of the shares in Dayang Enterprise Holdings Bhd (fundamental: 0.2/3; valuation: 0.9/3) triggered our momentum algorithm yesterday for the fourth time this year. The group saw 5.41 million shares traded, compared with its 200-day average of 2.22 million shares.
The group returned to the black in the second financial quarter ended June 30, 2018 (2QFY18), posting a net profit of RM38.85 million, compared to a net loss of RM48.1 million for 2QFY17.
Quarterly revenue grew 15.8% to RM221.28 million from RM191.02 million a year ago.
Dayang attributed the improved quarterly performance to higher work orders received and performed under topside maintenance contracts.
The stock rose three sen or 3.9% to close at 80 sen yesterday, bringing it a market capitalisation of RM795.97 million. Dayang currently trades at 0.79 times its book value.