Stock With Momentum: Sarawak Plantation

This article first appeared in The Edge Financial Daily, on December 24, 2019.
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Sarawak Plantation Bhd (-ve)

SHARES in Sarawak Plantation Bhd (fundamental: 1.25/3, valuation: 1.4/3) ended five sen or 2.55% higher yesterday at RM2.01 with 331,700 shares traded.

Year to date, the counter has appreciated by 18.23% from RM1.70 at the beginning of the year. The current market price values the group at RM560.86 million.

The last time Sarawak Plantation was featured in “Stocks with Momentum” was on Nov 21 this year. The stock has been traded in the range of RM1.31 to RM2.02 in the past 52 weeks.

Last month, it announced that its net profit for the third quarter ended Sept 30, 2019 (3QFY19) declined by 44.7% to RM5.16 million or 1.85 sen per share, from RM9.34 million or 3.34 sen per share a year ago.

Revenue, meanwhile, grew 11.87% to RM93.55 million, from RM83.62 million for 3QFY18.