Complete Logistic Services Bhd (+ve)
TRADING of shares in Complete Logistic Services Bhd (fundamental: 2.5/3, valuation: 2.6/3) triggered our momentum algorithm yesterday for the fourth time this year.
The counter closed six sen or 7.69% higher to 84 sen, with 875,100 shares traded, nine times higher than its 200-day average trading volume of 92,115.5 shares.
The group saw its net profit grow 13% year-on-year (y-o-y) to RM10.69 million in the financial year ended March 31, 2019 from RM9.42 million the previous year on improved performance across all segments.
On prospects, the group sees strong headwinds ahead for its logistics segment due to a slow business market.
For its marine segment, the group foresees the segment to remain challenging, thanks to increasing foreign equity participation in the local logistics businesses, making it a very competitive business.