Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily, on September 29, 2016.

 

George Kent (Malaysia) Bhd (+ve)

SHARES in George Kent (Malaysia) Bhd (fundamental: 2.1/3, valuation: 1.5/3) triggered our momentum algorithm yesterday for the sixth time since August.

The counter closed six sen or 2.39% higher at RM2.57 yesterday, after 7.07 million shares were traded. Its 200-day average volume is only around 1.16 million shares.

On Tuesday, George Kent announced that its net profit soared 142% to RM20.51 million in the second quarter ended July 31, 2016, from RM8.47 million a year earlier, on higher contributions from its engineering and metering divisions.

Revenue jumped 43.7% to RM164.77 million. It declared an interim single-tier dividend of three sen per share for the year.

In the first half ended July 31, 2016, net profit almost doubled to RM35.52 million from RM18.34 million, while revenue rose 65.66% to RM287.73 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 13.97 times and 2.81 times book value. It has a trailing 12-month dividend yield of 2.23%.

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