BP Plastics Holding Bhd (-ve)
TRADING of shares in BP Plastics Holding Bhd (fundamental: 2.05/3, valuation: 2/3), which closed one sen or 0.93% higher at RM1.09 last Friday, triggered our momentum algorithm for the second time this year.
At the closing bell, BP Plastics — now valued at RM204.54 million — recorded a total trading volume of 530,500 shares, sharply higher than its 200-day average of 76,059 shares.
Last Thursday, the group announced a 64% jump in its annual net profit to RM21.09 million for the financial year ended Dec 31, 2018 (FY18), from RM12.83 million in the preceding year. It also proposed a third single-tier interim dividend of two sen per share.
It attributed the higher profitability to better product mix and cost savings achieved from improved production efficiencies, as full-year revenue grew 1.6% to RM333.78 million, from RM328.56 million in FY17.