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This article first appeared in The Edge Financial Daily on February 13, 2020

Lotus KFM Bhd (+ve)
TRADING of shares in Lotus KFM Bhd (fundamental: 0.6/3, valuation: 0/3) triggered our momentum algorithm yesterday for the first time this year.

The counter closed up one sen or 8.33% at 13 sen yesterday, with 6.08 million shares done, over 13 times its 200-day average volume of 442,908 shares.

Lotus KFM (previously known as Kuantan Flour Mills Bhd) recorded a wider loss of RM2.23 million for the fourth quarter ended Sept 30, 2019 (4QFY19) compared to a net loss of RM537,000 a year ago, mainly due to higher raw material and production overhead costs, and increased administrative expenses.

Revenue for the quarter, however, rose 37.75% to RM16.42 million from RM11.92 million.

For full FY19, the company’s net loss widened to RM3.96 million from RM2.9 million for FY18, despite revenue climbing 50.24% to RM58.6 million from RM39 million a year ago, as cost of sales and administrative expenses jumped.

 

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