Stock With Momentum: London Biscuits

This article first appeared in The Edge Financial Daily, on December 4, 2018.
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London Biscuits Bhd (+ve)
TRADING of shares in London Biscuits Bhd (fundamental: 0.45/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the fourth time this year.

The stock closed 1.5 sen or 2.54% higher at 60.5 sen, which valued the group at RM119.25 million. It saw 10.14 million shares done, versus its 200-day average volume of 1.12 million shares.

Last Friday, the confectionery maker reported a net profit of RM6.66 million for the fourth quarter of financial year 2018 (4QFY18) ended Sept 30, 2018, on a revenue of RM98.13 million.

For FY18, its net profit was RM13.9 million, while revenue was RM326.36 million. There were no comparative figures following its change of financial year end to Sept 30 from June 30 in 2017.

The group said FY18 was another challenging year. Its management said it will strive to ensure the group continue to perform positively for the FY19.