Focus Lumber Bhd (-ve)
Trading of shares in Focus Lumber Bhd (fundamental: 1.3/3, valuation: 2/3) triggered our momentum algorithm on Tuesday for the second time this month.
The plywood and veneer manufacturer’s share price closed up 14 sen or 10% at RM1.54 after 3.18 million shares were traded, versus the counter’s 200-day average volume of 123,371 shares. The group’s market capitalisation stood at RM158.93 million.
On Monday, the group announced its net profit for the second quarter ended June 30, 2018 (2QFY18) has tripled year-on-year on higher sales and improved gross margin, among others.
As such, its net profit grew to RM9.61 million from RM2.98 million a year ago, as revenue strengthened 35% to RM55.75 million from RM41.31 million.