Friday 29 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on July 14, 2017

Careplus Group Bhd (+ve)
SHARES in Careplus Group Bhd (fundamental: 0.2/3, valuation: 0.2/3) triggered our proprietary momentum algorithm yesterday. The stock went down one sen or 2.33% to close at 42 sen, with some 19.34 million shares traded, exceeding its 200-day average volume of 2,380,168 shares. The ACE Market-listed glove maker started the year on a firm footing, reporting a more than fourfold increase in net profit to RM3.76 million in the first quarter ended March 31, 2017 (1QFY17) from RM798,000 a year ago, while revenue surged 77% to RM87.04 million from RM49.05 million in 1QFY16.

At the group’s annual general meeting recently, Careplus executive director and group chief executive officer Lim Kwee Shyan said he is hopeful that the company’s performance during the current financial year ending Dec 31, 2017 (FY17) will be better than last year barring any unforeseen circumstances.

At the current share price, Careplus is trading at 2.1 times its book value.

      Print
      Text Size
      Share