Diversified Gateway Solutions Bhd (-ve)
TRADING in the shares of Diversified Gateway Solutions Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year.
The stock of the integrated business solutions services provider closed one sen or 11.77% lower at 7.5 sen, after 55.83 million shares were traded, compared with the counter’s 200-day average volume of 23.89 million shares.
The group posted a wider net loss of RM3.56 million in the fourth quarter ended March 31, 2018 (4QFY18), compared with RM1.05 million a year ago, due to an inventory write-off, some fair value loss on long-term receivables, and an impairment on receivables.
Quarterly revenue, however, grew 26% year-on-year to RM27.29 million from RM21.66 million, as demand for system, applications and products services rose.
For the full financial year 2018, Diversified fell into the red with a net loss of RM2.46 million compared to a net profit of RM417,000 a year ago, despite a 13% rise in revenue to RM83.9 million from RM74.16 million.