Pansar Bhd (+ve)
TRADING of shares in Pansar Bhd (fundamental: 1.45/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year.
The counter closed up 0.5 sen or 0.6% at 84.5 sen, with 3.5 million shares traded versus the 200-day average volume of 1.56 million shares. Its market capitalisation stood at RM258.08 million.
The group is principally engaged in the supply and distribution of marine and industrial products such as power generating and water pressure systems.
For its second financial quarter ended Sept 30, 2018, Pansar’s net profit almost halved to RM1.25 million from RM2.5 million despite a relatively flat revenue of RM97.41 million versus RM97.06 million a year ago.
The group saw its net profit fall 20.3% to RM3.63 million in the first half of its financial year (1HFY19) from RM4.55 million in 1HFY18, despite improved revenue, as higher administrative expenses, finance costs and impairment loss on receivables weighed on profits.