Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on July 25, 2018

Signature International Bhd (-ve)
TRADING in shares of Signature International Bhd (fundamental: 1.4/3, valuation: 2.4/3) triggered our momentum algorithm yesterday for the first time this year.

The counter saw 810,000 shares traded, exceeding its 200-day average of 424,156.5 shares. The stock gained two sen or 3.51% and closed at 59 sen yesterday, valuing the furniture firm at RM141.78 million. Signature currently trades at 0.73 times its book value.

For its third financial quarter ended March 31, 2018, Signature reported a 4.69% drop in net profit to RM3.66 million, from RM3.49 million a year ago, on additional provision for doubtful debt and higher interest cost. Quarterly revenue, however, jumped 10.04% to RM54.19 million, from RM49.25 million previously.

Going forward, Signature said it is confident of continuing to deliver satisfactory performance for the remainder quarter of the financial year.

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