Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on March 30, 2017.

 

Nationwide Express Holdings Bhd (-ve)

SHARES in Nationwide Express Holdings Bhd (fundamental: 1.25/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the second time this month, closed five sen or 7.3% higher at 73.5 sen.

Some 854,800 shares were traded, compared with its 200-day average volume of 53,652 shares. Its share price has jumped over 63% since the beginning of March.

Nationwide Express is a courier service provider that also offers freight forwarding services.

Nationwide Express’ net loss widened to RM2.55 million in the third quarter ended Dec 31, 2016, from RM1.51 million a year ago, on lower revenue due to lower business volume of the courier segment.

Its quarterly revenue fell 7.77% to RM22.91 million from RM24.84 million.

For the accumulated nine-month period, Nationwide Express’ net loss widened to RM9.49 million from RM2.23 million a year ago, as revenue declined 10.6% to RM63.33 million from RM70.86 million.

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