TRC Synergy Bhd (+ve)
TRADING of shares in TRC Synergy Bhd (valuation: 2/3, fundamental: 1.25/3) triggered our momentum algorithm yesterday for the first time this year.
The counter closed two sen or 3.42% lower at 56.5 sen, after 5.42 million shares changed hands, versus its 200-day average trading volume of 592,416.5 shares.
On Tuesday, TRC Synergy announced that its net profit for the third quarter ended Sept 30, 2018 retreated 7% to RM9.78 million from RM10.55 million in the year-ago quarter, as revenue fell 25% to RM117.36 million from RM156.84 million.
It said the fall in earnings was smaller compared with the drop in revenue because it was mitigated by a higher gross profit margin, which was due to the revision of budgeted costs on the closing of accounts for completed projects, which resulted in the recognition of additional profit.