Bermaz Auto Bhd (+ve)
SHARES in Bermaz Auto Bhd (fundamental: 2.1/3, valuation: 1.5/3) triggered our momentum algorithm yesterday for the first time this year.
The stock closed five sen or 2.15% higher at RM2.38, giving it a market capitalisation of RM2.76 billion, after 20.06 million shares changed hands, exceeding its 200-day average volume of 1.83 million shares.
The Mazda vehicle and spare parts distributor’s net profit soared in the fourth quarter ended April 30, 2018 to RM57.19 million from RM22.21 million a year ago, due to higher domestic sales of the Mazda CX-5 and CX-9 models that were launched in the last quarter of 2017.
Revenue jumped 61% to RM570.59 million from RM354.03 million. As a result, earnings per share rose to 4.93 sen from 1.93 sen.