PCCS Group Bhd (-ve)
PCCS Group Bhd (fundamental: 1.7/3, valuation: 1.8/3), which made it into our Stocks with Momentum list yesterday for the first time this month, closed 1.5 sen or 2.5% higher at 61.5 sen. It saw 21.74 million shares traded, over six times more than the counter’s 200-day average volume of 3.34 million shares.
The group is principally involved in garment manufacturing for original equipment manufacturer and in-house brands, services of embroidery and woven fabric, as well as printing for self-adhesive stickers, heat transfer labels and name plates commonly used in packaging and display.
The group’s financial year ended March 31, 2019 closed on a high note as net profit surged nearly five times to RM21.27 million from RM4.52 million a year ago, despite revenue falling 17.5% to RM436.32 million.
Besides asset disposal gains, PCCS said the better earnings were due to improvements in its apparel business and printing and embroidery business in Cambodia, and labelling business in Malaysia.