This article first appeared in The Edge Financial Daily on December 2, 2019

Radiant Globaltech Bhd (-ve)

Trading in shares of Radiant Globaltech Bhd (fundamental: -/3, valuation: -/3) triggered our momentum algorithm for the sixth time this year last Friday.

The last time the counter triggered the momentum algorithm was on Oct 29.

The stock closed 3.03% or one sen higher at 34 sen, after some 20.6 million shares were traded, 15 times its 200-day average trading volume of 1.37 million shares.

For the third quarter ended Sept 30, 2019 (3QFY19), the group’s net profit nearly doubled to RM1.73 million from RM948,000 a year ago, as revenue jumped 46.3% to RM21.87 million from RM14.95 million, with stronger contribution from its software segment, which carried a higher gross profit margin.

The group declared a first interim dividend of 0.1 sen per share, payable on Jan 8, 2020.

For the nine months ended Sept 30, 2019 (9MFY19), net profit grew by 21.3% to RM3.53 million from RM2.91 million last year, as revenue grew 9.3% to RM51.94 million from RM47.53 million.