ATA IMS Bhd (+ve)
TRADING of shares in electronics manufacturing service provider ATA IMS Bhd (fundamental: 1.7/3, valuation: 0.8/3) triggered our proprietary momentum algorithm yesterday for the second time this year.
At market close, the stock settled three sen or 1.7% higher at RM1.80, with 5.59 million shares traded, sharply higher compared with its 200-day average trading volume of 682,891 shares.
ATA IMS turned in a 10% higher net profit of RM27.41 million in its second financial quarter ended Sept 30, 2018 (2QFY18), from RM24.8 million in the year-ago quarter on higher sales order from existing customers. Quarterly revenue grew 10% as well to RM691.61 million from RM626.92 million in 2QFY17.
The group said it is expecting a higher volume of orders from existing customers, and will continue to expand and improve its production capabilities and operational efficiencies.