This article first appeared in The Edge Financial Daily on July 2, 2019

SMTrack Bhd (+ve)

TRADING of shares in SMTrack Bhd (fundamental: 1.2/3, valuation: 0/3) triggered our momentum algorithm yesterday for the 11th time this year.

The ACE Market-listed information technology company’s share price closed unchanged at 21.5 sen yesterday, giving it a market capitalisation of RM32.01 million. A total of 18.24 million shares were crossed, exceeding the counter’s 200-day average of 2.36 million shares.

For the third quarter ended April 30, the group reported a net profit of RM74,000, compared to a net loss of RM420,000 in the previous year, on lower sales and expenses. It reported a 13% increase in revenue to RM425,000 from RM375,000 previously.

For the nine months, it reported a net profit of RM163,000 versus a net loss of RM699,000 in the previous year. Revenue rose 50% to RM1.27 million from RM849,000 a year ago.

SMTrack said the management will continue to increase operational efficiency and cost management to remain competitive.