Stock With Momentum: Latitude Tree Holdings

This article first appeared in The Edge Financial Daily, on March 8, 2019.
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Latitude Tree Holdings Bhd (-ve)
TRADING of shares in Latitude Tree Holdings Bhd (fundamental: 1.4/3, valuation: 1.95/3) triggered our proprietary momentum algorithm yesterday. The counter saw 113,500 shares traded.

The counter closed up two sen or 0.5% at RM4.05, its highest year-to-date. Its share price has gained 3.87% since the start of the year.

For its second financial quarter ended Dec 31, 2018 (2QFY19), the group’s net profit more than doubled to RM16.87 million from RM7.68 million a year ago. This was supported by improved sales of higher margin products, lower average prices of certain raw materials and appreciation of the US dollar against the ringgit.

Revenue for the quarter grew to RM204.48 million from RM196.84 million in 2QFY18.