LB Aluminium Bhd (-ve)
Trading of shares in LB Aluminium Bhd (fundamental: 1/3, valuation: 2.6/3), which closed half a sen or 0.87% higher at 58 sen yesterday, triggered our proprietary momentum algorithm for the second time this year.
At the closing bell, the aluminium extrusion supplier — now valued at some RM144.12 million — recorded a total trading volume of 2.28 million shares, sharply higher compared with its 200-day average of 118,873 shares.
LB Aluminium in its second quarter ended Oct 31, 2019 registered a net profit jump of 44% to RM4.09 million, from RM2.83 million a year ago, although revenue fell 9.3% to RM129.98 million on lower sales and average selling prices.
The higher profit posted was mainly due to the share of results of an associate of RM1.77 million, bringing its first-half net profit to RM8.67 million. Revenue stood at RM256.79 million for the period under review.