Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on November 8, 2019

FoundPac Group Bhd (-ve)
TRADING of shares in FoundPac Group Bhd (fundamental: 1.95/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the fourth time since August this year.

The stock finished 2.5 sen or 5.15% higher at 51 sen after 35.28 million shares crossed, nearly seven times more than its 200-day average trading volume of 5.19 million shares.

In its financial year ended June 30, 2019 (FY19), FoundPac reported a net profit of RM11.81 million, up 56.8% from RM7.53 million in FY18. Full-year revenue grew 26.5% to RM44.95 million from RM35.53 million.

The group attributed its stronger earnings to a change in sale of product mix in its precision engineering segment and tax incentives it enjoyed during the year.

 

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