Freight Management Holdings Bhd (-ve)
TRADING of shares in Freight Management Holdings Bhd (fundamental: 1.4/3, valuation: 2/3) also triggered our momentum algorithm yesterday for the first time this year.
Freight Management slid three sen or 2.7% to RM1.08, after 109,400 shares were traded, versus the counter’s 200-day average volume of 30,847.5 shares. The group’s market capitalisation stood at RM201.04 million.
The multimodal freight services provider’s net profit in its fourth quarter ended June 30, 2018 fell 28.5% to RM4.17 million from RM5.82 million a year ago, mainly due to its share of losses in Singapore-based TCH Marine Pte Ltd and impairment of advances in a joint venture.
Quarterly revenue rose 4.6% to RM129.9 million from RM124.16 million a year ago, mainly due to increase of activities across all services.
The group declared a second interim dividend of 3.5 sen per share amounting to RM6.52 million for FY18, payable on Nov 14.