Euro Holdings Bhd (-ve)
TRADING of shares in Euro Holdings Bhd (fundamental: 0.35/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the fourth time this year.
The counter closed eight sen or 25.4% higher at 39.5 sen, with 11.04 million shares traded, over six times its 200-day average volume of 1.77 million shares.
The group is principally engaged in the design, manufacturing and trading of its own brand of chairs, system furniture, storage and accessories.
For the fourth quarter ended Dec 31, 2019, the group’s net loss almost doubled to RM4.18 million from RM2.18 million for the corresponding period last year, mainly due to higher cost incurred and a provision for late delivery by the property division.
Quarterly revenue fell 32% to RM18.16 million from RM26.6 million, due to lower property completion rates and lower sales owing to potential homeowners facing difficulties in getting financing.