Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on October 1, 2019

Sern Kou Resources Bhd (-ve)

Sern Kou Resources Bhd (fundamental: 1.1/3, valuation: 0.8/3) made it to our Stocks with Momentum list yesterday for the first time this year.

The counter closed one sen or 1.3% higher at 78 sen after some 1.56 million shares were traded, far exceeding its 200-day average trading volume of 269,195 shares.

Sern Kou is principally involved in the manufacturing of dining furniture, occasional sets, living room sets and bedroom sets for original equipment manufacturers and original design manufacturers.

For the fourth quarter ended June 30, 2019 (4QFY19), it recorded a net profit of RM2.18 million versus a net loss of RM144,000 a year ago, with revenue growing by 49.59% to RM72.54 million from RM48.49 million.

Its full-year net profit rose 27.27% year-on-year (y-o-y) to RM11.56 million for FY19 from RM9.08 million, as revenue gained 37.07% y-o-y to RM237.12 million from RM173 million.

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