Dufu Technology Corp Bhd (-ve)
TRADING of shares in Dufu Technology Corp Bhd (fundamental: 3/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time in the past year.
The counter closed 33 sen or 9.32% higher at its all-time high of RM3.87. Over the past one year, the stock’s share price has surged two times from RM1.48. The counter saw 4.07 million shares traded yesterday, exceeding its 200-day average trading volume of 2.22 million shares.
Dufu saw its net profit drop 23.5% to RM14.78 million for the third quarter ended Sept 30, 2019 (3QFY19), from RM19.32 million a year ago, due to lower realised foreign exchange by RM1.6 million, additional non-cash employee benefits arising from a share option granted under the employees’ share option scheme of RM1.2 million and higher depreciation charges of RM700,000.
Its revenue for 3QFY19 was almost flat at RM67.63 million versus RM66.9 million in the previous year.