Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on December 7, 2018

London Biscuits Bhd (-ve)

TRADING of shares in London Biscuits Bhd (fundamental: 0.45/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the sixth time since Aug 10 this year.

The stock closed down one sen or 1.64% at 60 sen, with 4.16 million shares traded compared with its 200-day average trading volume of 1.23 million shares.

Last Friday, in announcing its fourth-quarter financial results, the company guided that the additional capacity in its potato chip production line would facilitate new business opportunities to be secured, and that it would be introducing a new premium cake product by year end. The group aims to ensure that the group continues to perform positively for financial year 2019 (FY19), as FY18 ended on Sept 30 was another challenging year.

London Biscuits is now trading at 0.29 times its net book value.

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