Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on December 11, 2018

Teo Seng Capital Bhd (-ve)
TRADING of shares in Teo Seng Capital Bhd (fundamental: 0.65/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the fourth time since March 12.

The counter saw 726,200 shares crossed — higher than its 200-day average trading volume of 118,000 shares. The stock closed 5.5 sen or 6.51% higher at 90 sen.

For the third quarter ended Sept 30 (3QFY18), Teo Seng posted a more than sixfold jump in net profit to RM7.02 million from RM1.13 million a year ago, on the back of improved selling prices of eggs and higher sales quantities, coupled with lower feed cost.

Quarterly revenue climbed 14.6% to RM125.26 million from RM109.29 million in 3QFY17. The strong quarterly results helped the group turn a net profit of RM13.1 million for the cumulative nine-month period (9MFY18), versus a net loss of RM11.01 million in 9MFY17, while revenue grew 12.1% to RM343.06 million from RM306.04 million a year ago.

Teo Seng is now trading at 1.03 times its net book value.

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