Kumpulan H & L High-Tech Bhd (-ve)
Kumpulan H & L High-Tech Bhd (fundamental: 1.5/3, valuation: 2/3) made it into our Stocks with Momentum list yesterday for the first time this year.
The counter closed five sen or 4.35% higher at RM1.20 after 7,400 shares were traded, exceeding its 200-day average volume of 1,137 shares. Year to date, its share price has gained 8.11% from RM1.11.
The group’s net profit fell 53.6% to RM987,000 in the third quarter ended July 31, 2019, from RM2.13 million a year ago, as its manufacturing and property investment segments saw lower profit due to higher expenses. Its property development also recorded lower profit, while its plantation segment remained loss-making. Revenue for the quarter declined 12.6% to RM6.17 million from RM7.06 million.
For its nine-month period, net profit sank 29.9% to RM2.69 million from RM3.84 million a year ago, while revenue declined 11.09% to RM16.86 million from RM18.96 million.