Stock With Momentum: Amcorp Properties

This article first appeared in The Edge Financial Daily, on September 4, 2018.
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Amcorp Properties Bhd (+ve)
Trading of shares in Amcorp Properties Bhd (fundamental: 1.7/3, valuation: 3/3) triggered our momentum algorithm yesterday for the third time this year.

The counter finished one sen lower at 74 sen, giving it a market capitalisation of RM450.99 million, after 280,400 shares were traded, compared with the counter’s 200-day average volume of 98,250 shares.

Amcorp Properties was back in the black in first quarter ended June 30, 2018 with a net profit of RM3.94 million, mainly due to sale completions achieved for its Holland Park Villas project in London, and a higher profit from its Malaysian properties and contracting business. It incurred a net loss of RM1.07 million in 1QFY18.

Quarterly revenue rose 4% to RM32.64 million against RM31.50 million a year ago.