Pansar Bhd (+ve)
SHARES in industrial equipment provider Pansar Bhd (fundamental: 1.45/3, valuation: 0.8/3), which triggered our momentum algorithm yesterday for the twelfth time this year, closed up one sen or 1.12% at 90.5 sen.
Some 6.34 million shares were traded, versus its 200-day average trading volume of 674,022 shares.
Pansar’s net profit grew 66.22% year-on-year (y-o-y) to RM2.36 million for the third quarter ended Dec 31, 2017, from RM1.42 million, as it achieved higher gross profit and recorded better share of results from an associate, besides foreign exchange translation gain and a higher write-back of impairment on receivables.
Quarterly revenue grew 8.41% y-o-y to RM93.11 million from RM85.89 million, on the back of higher recognition of revenue from both its mechanical and electrical, and marine and industrial segments.
For the cumulative nine-month period ended Dec 31, 2017, Pansar’s net profit rose 53.89% y-o-y to RM6.91 million from RM4.49 million, as revenue grew 4.15% y-o-y to RM280.51 million from RM269.34 million.