Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on February 27, 2019

Hong Leong Industries Bhd (-ve)

Trading in the shares of Hong Leong Industries Bhd (fundamental: 3/3, valuation: 2.10/3), which pushed the counter three sen or 0.3% higher to close at RM9.88 yesterday, triggered our momentum algorithm for the first time this year.

It saw 1.25 million shares traded, compared with its 200-day average trading volume of 66,160.5 shares.

On Feb 18, the group said its net profit for the second quarter ended Dec 31, 2018 grew 4.6% year-on-year to RM86.74 million from RM82.94 million on higher sales in its consumer segment, while revenue rose 11.16% to RM702.85 million from RM632.31 million.

Its profit for the six-month period ended Dec 31, 2018, however, fell 4.9% to RM156.79 million from RM164.8 million a year ago, despite revenue rising 9.5% to RM1.38 billion from RM1.26 billion.

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