This article first appeared in The Edge Financial Daily on June 10, 2019

Hume Industries Bhd (+ve)
TRADING of shares in Hume Industries Bhd (fundamental: 0/3, valuation: 0.3/3) triggered our momentum algorithm last Friday for the sixth time this year.

The stock closed up eight sen or 6.78% at RM1.26 last Friday, with a market capitalisation of RM603.66 million. It saw some 3.37 million shares done, almost six times more than the average 583,154 shares recorded in the past 200 days.

For the third quarter ended March 31, 2019, the group’s net loss widened to RM24.19 million from RM18.9 million in the previous year on weaker revenue contribution of RM152.8 million compared with RM179.76 million a year ago.

For the cumulative nine months of financial year 2019, the group’s net loss grew three times to RM70.27 million from RM22.88 million in the previous corresponding period as revenue also fell 5.76% to RM475.38 million, compared with RM504.43 million a year ago.