Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on February 27, 2020

Advance Synergy Bhd (-ve)
ADVANCE Synergy Bhd (fundamental: 0.95/3, valuation: 1.2/3) made it into our Stocks with Momentum list yesterday for the fifth time this year and the second time this month.

Its share price jumped 46.67% or seven sen higher to 22 sen, after 422.63 million shares were traded, over 119 times the counter’s 200-day average trading volume of 3.54 million shares. It was the most actively traded stock on Bursa Malaysia yesterday.

The group’s net profit for the fourth quarter ended Dec 31, 2019 jumped to RM88.12 million, about 12 times the RM7.47 million it recorded a year ago, though revenue declined marginally to RM85.64 million from RM87.24 million.

For the full financial year, it returned to the black with a net profit of RM74.94 million, versus a net loss of RM4.9 million, though revenue fell 3% to RM275.52 million from RM283.58 million.

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