Ancom Bhd (-ve)
Shares in Ancom Bhd (fundamental: 0.7/3, valuation: 1.1/3) triggered our momentum algorithm last Friday for the first time this year.
The counter fell three sen or 4.96% to 57.5 sen, translating into a market capitalisation of RM123.73 million, after 1.21 million shares were traded.
Ancom’s net profit jumped 63% to RM1.42 million in its second financial quarter ended Nov 30, 2017, from RM871,000 in the previous year’s corresponding quarter. Its quarterly revenue increased 23% to RM497.73 million from RM403.75 million.
For the first half of its financial year, net profit rose 62% to RM2.53 million from RM1.56 million in the previous year, while revenue climbed 21% to RM917.27 million from RM759.90 million.
The improvement in results was mainly contributed by the agricultural and industrial chemical segments and the polymer segment, but was offset by lower profit contribution from the logistics, IT and media segments, while the investment holding segment posted a loss.