Friday 29 Mar 2024
By
main news image

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

Parkson Holdings Bhd (-ve)
TRADING of shares in Parkson Holdings Bhd (fundamental: 1.35/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the fourth time this year.

The company saw 6.75 million shares traded, exceeding the counter’s 200-day average of 822,053 shares.

The stock gained 4.5 sen, or 7.56%, to close at 64 sen yesterday, bringing it a market capitalisation of RM700.1 million.

Parkson, which operates 66 department stores in Malaysia, Vietnam, Indonesia and Myanmar, is currently trading at 0.26 times its book value.

Parkson returned to the black in the third financial quarter ended March 31, 2018, posting a net profit of RM25.3 million compared to a net loss of RM33.24 million a year ago, while revenue remained flat at RM1.06 billion.

On its outlook, Parkson said it sees ample opportunities and positive signs in line with the emergence of the “new retail” concept in China.

      Print
      Text Size
      Share