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This article first appeared in The Edge Financial Daily on July 3, 2017

Sern Kou Resources Bhd (+ve)

SHARES in Sern Kou Resources Bhd (fundamental: 0.35/3, valuation: 0/3), which triggered our momentum algorithm last Friday for the third time this year, closed nine sen or 7.2% higher at RM1.34. The counter saw 1.13 million shares traded, compared with its average volume of only 73,102.5 shares recorded in the last 200 days.

Year to date, Sern Kou’s share price has appreciated by 27.62% from RM1.05 on Jan 3 this year.

Sern Kou recently announced that its net profit for the third quarter ended March 31, 2017 (3QFY17) fell 14% to RM746,000 or 0.62 sen per share, from RM871,000 or 0.73 sen per share a year ago, though revenue grew 20.78% to RM33.33 million from RM27.59 million in 3QFY16.

The weaker performance was primarily due to its cost of sales having increased at a higher rate than revenue to RM29.56 million from RM23.75 million previously, and as income tax jumped to RM455,000 from RM63,000.

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