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This article first appeared in The Edge Financial Daily on August 22, 2019

Pecca Group Bhd (+ve)

TRADING of shares in Pecca Group Bhd (fundamental: 1.65/3, valuation: 2/3) triggered our stocks with momentum algorithm yesterday for the sixth time this year.

The counter closed up eight sen or 6.84% at RM1.25 yesterday, with 5.9 million shares traded, 11 times more than its 200-day average volume of 536,192 shares.

The group is involved in the styling, manufacturing, distribution, repair, refurbishment and installation of leather upholstery for cars and aircraft.

For the third quarter ended March 31, 2019, Pecca’s net profit more than doubled to RM4.54 million from RM2.05 million a year ago, as revenue rose 19.6% to RM34.66 million from RM28.99 million.

For the nine-month period, its net profit jumped 78.5% to RM13.75 million from RM7.70 million last year, as its original equipment manufacturer leather car seat division continues to be the largest contributor segment. Revenue rose 14.4% to RM95.48 million from RM83.48 million a year ago.

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