Complete Logistic Services Bhd (-ve)
TRADING of shares in Complete Logistic Services Bhd (fundamental: 2.5/3, valuation: 1.7/3) triggered our momentum algorithm last Friday for the second time this year. It last triggered the algorithm on Jan 23.
The stock jumped 12.5 sen or 15.43% to close at 93.5 sen, after 1.09 million shares were traded, almost 15 times more than its 200-day average trading volume of 73,002.5 shares.
The groups’s net profit for its fourth quarter ended March 31, 2019 fell 38% to RM1.26 million from RM2.02 million posted a year prior, as revenue retreated 6% to RM28.89 million from RM30.62 million, as its logistics business experienced a decline. Cumulative net profit for financial year 2019 (FY19), however, grew 13% to RM10.69 million from RM9.42 million a year ago, on the back of better performances in all its segments, while revenue inched up to RM124.1 million from RM124.02 million.
The group declared a first interim dividend of 16 sen per share for FY20, to be paid on Aug 26.