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This article first appeared in The Edge Financial Daily on February 27, 2019

GD Express Carrier Bhd (+ve)

Trading in the shares of GD Express Carrier Bhd (fundamental: 1.45/3, valuation: 0.50/3) triggered our momentum algorithm yesterday for the first time this year.

The counter gained 5.5 sen or 18.03% to close at 36 sen, after 48.74 million shares were traded, much higher than its average 200-day trading volume of 1.25 million shares.

On Monday, it announced that its net profit surged 62.2% to RM10.69 million for the second financial quarter ended Dec 31, 2018 (2QFY19) from RM6.59 million a year ago on higher demand for its courier services from its e-commerce business. Revenue grew 8.3% to RM82.81 million from RM76.46 million.

The improved 2QFY19 performance lifted the group’s net profit for the first half of FY19 (1HFY19) to RM17.16 million, up 18.5% from RM14.48 million year ago, while revenue rose 8.3% to RM157.32 million from RM145.23 million for 1HFY18.

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