Stock With Momentum: GSB Group

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This article first appeared in The Edge Financial Daily, on April 10, 2017.

 

GSB Group Bhd (-ve)
SHARES in GSB Group Bhd (fundamental 0.15/3, valuation: 0.9/3) closed one sen or 10% higher at 11 sen last Friday with a market capitalisation of RM58.1 million.

The compact disc manufacturer’s net loss narrowed in its third quarter ended Dec 31, 2016 to RM789,000 from RM2.05 million, as revenue jumped to RM6.19 million from RM2.76 million.

The group said there was a significant increase in revenue at its property division to RM5 million from RM1 million previously, mainly due to revenue recognised from a Bentong project.

Its cumulative net loss for the nine months ended Dec 31, 2016 improved to RM463,000 from RM833,000 as revenue grew to RM25.03 million from RM13.42 million.

The stock saw some 7.93 million shares traded compared with its 200-day average volume of just 640,638 shares.