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This article first appeared in The Edge Financial Daily on July 31, 2019

Boilermech Holdings Bhd (-ve)
TRADING of shares in Boilermech Holdings Bhd (fundamental: 2.5/3, valuation: 2/3) triggered our momentum algorithm for the second time this year on Monday.

The last time it triggered our algorithm was on April 24. The counter closed 6.72% or 4.5 sen higher to 71.5 sen, with a market capitalisation of RM368.94 million.

A total of one million shares were traded compared with its 200-day average trading volume of 80,909.5 shares.

For the fourth financial quarter ended March 31, 2019 (4QFY19), Boilermech’s net profit rose to RM10.32 million, from RM6.1 million posted a year prior. Its quarterly revenue increased to RM72.62 million, from RM68.09 million. Cumulative net profit for FY19 rose to RM26.58 million, from RM20.58 million a year ago. Revenue also rose to RM234.81 million, from RM225.91 million a year prior.

The group attributed its higher quarterly and full-year profit and revenue to greater project delivery and sales from its bioenergy and water treatment segment.

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