Focus Dynamics Group Bhd (+ve)
TRADING of shares in Focus Dynamics Group Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm yesterday for the first time this year.
The stock closed two sen or 12.5% higher at 18 sen yesterday, with 28.67 million shares done, compared with its average 6.63 million shares recorded in the past 200 days.
For the first quarter ended March 31, 2019, the group reported a net profit of RM617,000 or three sen a share, up 68% from RM368,000 or two sen a share in the previous year, which it attributed to higher revenue. Quarterly revenue rose 32% to RM9.95 million compared with RM7.55 million a year ago mainly due to a higher contribution from the food and beverage (F&B) segment during the period.
Moving forward, the group will continue to leverage its existing F&B outlets, as well as diversify its property investment and management initiatives. Besides these ventures, the board is also currently re-examining the engineering service segment as its contribution has dwindled over the past few years.