Stock With Momentum: Sam Engineering & Equipment (M) Bhd (-ve)
SHARES in Sam Engineering & Equipment (M) Bhd (valuation: 1.1/3, fundamental: 2.5/3) triggered our algorithm momentum yesterday for the first time this year. The counter gained 43 sen or 5.89% to close at its 11-month high of RM7.73 yesterday, with 632,000 shares traded.
The company has recently announced a first interim dividend of 10.28 sen per share and a special dividend of 6.95 sen per share for its financial year ended March 31, 2017, (FY17), payable on Aug 15.
However, the company saw its net profit for FY17 decline 30.9% to RM43.61 million in FY17 from RM63.09 million in FY16. Revenue also fell 13.3% to RM537.4 million from RM620.05 million, on a lower contribution from the equipment manufacturing segment due to weaker demand from customers.
Year to date, shares in Sam Engineering have gained 57.76%.