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This article first appeared in The Edge Financial Daily on November 30, 2017

Uzma Bhd (-ve)

SHARES in Uzma Bhd (fundamental: 0.8/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the second time this month. The stock closed seven sen or 4.76% higher at RM1.54 with a volume of 2.75 million shares, exceeding its 200-day average volume of 276,107.5 shares.

The oil and gas services provider saw almost-tenfold surge in its net profit to RM5.61 million in the second financial quarter ended June 30, 2017 (2QFY17), from 563,000 a year ago, on improvement in gross profit margin, despite revenue for 2QFY17 falling 22% to RM71.52 million from RM91.53 million on lower recognition of certain projects.

For the cumulative six months ended June 30, 2017 (1HFY17), its net profit fell 46% to RM11.54 million, from RM21.54 million a year ago, while revenue dropped 21% to RM166.02 million, versus RM210.66 million in 1HFY16.

At the current share price, Uzma is trading at 1.12 times its book value.

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