Thursday 28 Mar 2024
By
main news image

This article first appeared in The Edge Financial Daily on December 3, 2019

SHL Consolidated Bhd (-ve)

SELANGOR-based property developer SHL Consolidated Bhd’s (fundamental: 1.65/3, valuation: 2/3) share price surged to its 23-month high of RM2.78 yesterday, up 36 sen or 14.88%, and made it into our Stocks with Momentum list for the first time this year.

SHL saw trading volume of its shares surge to 601,700, or 36.8 times the counter’s 200-day average of 16,341 shares. The counter gained 22.5% in just three trading days.

This was despite the group posting a 37.45% decline in net profit for the cumulative nine months ended Sept 30, 2019 to RM22.02 million from RM35.2 million a year ago, as revenue declined 19.68% to RM77.43 million from RM96.41 million.

At its current share price, SHL is trading at 0.8 times its price-to-book value of RM3.33.

      Print
      Text Size
      Share