I-Bhd (-ve)

SHARES in I-Bhd (Fundamental: 2.7/3, Valuation: 3/3) triggered our momentum algorithm for the second time this year. The counter closed 0.5 sen or 0.92% at 55 sen yesterday, with some 1.9 million shares traded.

It only saw 425,479 shares in its 200-day average volume.

The property developer saw its net profit jump 72.3% to RM14.68 million in the second quarter ended June 30, 2016 from RM8.52 million a year ago, primarily due to further sales from existing projects and new launch during the year, as well as the advancement of the construction progress. Revenue grew 64.4% to RM86.68 million from RM52.73 million.

For the first half of financial year 2016, I-Bhd posted a net profit of RM30.04 million from RM18.75 million. Revenue rose 30.5% to RM167.12 million from RM128.07 million.

The stock currently trades at a trailing 12-month price-earnings ratio of 9.97 times and 0.65 times book value.