Stock With Momentum: Complete Logistic Services

This article first appeared in The Edge Financial Daily, on July 24, 2019.
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Complete Logistic Services Bhd (-ve)

Complete Logistic Services Bhd (fundamental: 2.5/3, valuation: 1.7/3), which made it into our Stocks with Momentum list yesterday for the second time this month, closed up 1.5 sen or 1.62% at 94 sen.

It saw 352,900 shares traded, versus the counter’s 200-day average volume of 79,289.5 shares.

The group provides marine transportation services, general trading, trading of freight, container haulage, custom brokerage and forwarding services, warehousing services, lorry and trucking services, and total logistics services.

The groups’ 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, 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.