Permaju Industries Bhd (-ve)
TRADING of shares in Permaju Industries Bhd (fundamental: 0.75/3, valuation: 0.9/3), triggered our momentum algorithm yesterday for the 15th time this year.
The stock closed 0.5 sen or 1.25% higher at 40.5 sen yesterday, which valued the group at RM78.37 million. It saw 19.87 million shares done, versus its 200-day average volume of 1.97 million shares.
Permaju returned to the black with a net profit of RM801,000 in its third quarter ended Sept 30, 2018, compared to a net loss of RM2.04 million in the same quarter last year, mainly due to encouraging sales in its automotive division following the “zerorisation” of the goods and services tax.
Quarterly revenue jumped 46% to RM27.05 million from RM18.49 million.
For the first nine months of the financial year 2018, Permaju’s net loss narrowed to RM2.24 million from RM5.48 million in the same period last year, while revenue rose 25% to RM62.61 million from RM50.20 million.