Toyo Ink Group Bhd (-ve)
TRADING of shares in Toyo Ink Group Bhd (fundamental: 1.2/3, valuation: 1.25/3) triggered our momentum algorithm yesterday for the first time this year, with a total of 1.9 million shares traded versus a 200-day average of 260,918.5 shares.
The ink manufacturer saw its stock close up 4.5 sen or 6.47% yesterday at a year-to-date high of 74 sen, giving the group a market capitalisation of RM79.18 million.
For its third quarter ended Dec 31, 2019, the group recorded a lower net profit of RM965,000 versus a net profit of RM1.38 million a year ago, mainly due to a decline in contribution from its manufacturing and trading segment, as well as a loss from foreign exchange translation.
Quarterly revenue declined 7.69% to RM21.23 million from RM23 million a year ago.
The group had on April 9 completed its disposal of several vacant industrial lots in Klang, Selangor for RM17.76 million to Choo Bee Metal Industries Bhd.