This article first appeared in The Edge Financial Daily on October 26, 2018

Grand Hoover Bhd (-ve)
TRADING of shares in Grand Hoover Bhd (fundamental: 0.55/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time this year.

The stock closed up 3.5 sen or 5.47% to 67.5 sen yesterday. Some 390,100 shares were traded, which was higher than the counter’s 200-day average of 115,911 shares.

For the fourth quarter ended June 30, 2018, it reported a net loss of RM513,000 versus a net profit of RM2.92 million, due to higher costs and expenses incurred in the quarter.

This brought a loss per share of 1.28 sen from earnings per share of 7.29 sen in the previous corresponding quarter. Revenue grew 16% to RM13.6 million compared with RM11.77 million in the previous year.

For the full financial year, it fell into the red with a net loss of RM1.79 million versus a net profit of RM405,000, while revenue declined 3% to RM52.16 million from RM54.02 million after it deferred launching property development projects.

Grand Hoover is currently trading at 0.58 times its net book value.