Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on July 3, 2017

Mega First Corp Bhd (-ve)

SHARES in Mega First Corp Bhd (fundamental: 0.55/3, valuation: 0.9/3) settled unchanged last Friday at RM3.94 after 869,100 shares were traded.

Year to date, the counter has appreciated by 77.48% from RM2.22. The current market price values the group at RM1.5 billion.

The last time Mega First was featured on “Stocks with Momentum” was on Jan 19 this year. The stock has been trading between RM1.75 and RM4.02 in the past 52 weeks.

The group’s net profit for the first quarter ended March 31, 2017 (1QFY17) rose 58.41% to RM37.38 million or 9.8 sen per share, from RM23.60 million or 9.26 sen per share a year ago. Revenue, meanwhile, grew 27.92% to RM278.75 million in the quarter under review, from RM217.91 million in 1QFY16.

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