This article first appeared in The Edge Financial Daily on February 7, 2020
Hume Industries Bhd (-ve)
TRADING of shares in Hume Industries Bhd (fundamental: 0.2/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the first time since June last year.
The counter closed nine sen or 6.52% higher at RM1.47 yesterday, with 3.74 million shares traded, higher than its 200-day average volume of 1.17 million shares. Over the past year, the counter’s share price has surged some 165% from 55.5 sen.
Hume incurred a wider net loss of RM23.84 million or 4.83 sen a share for the first quarter ended Sept 30, 2019, compared with RM18.99 million or 3.96 sen per share for the year-ago quarter, due to lower cement selling price.
Quarterly revenue, however, grew 7.43% to RM172.22 million, from RM160.3 million a year ago.