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

Uzma Bhd (-ve)

TRADING of shares in Uzma Bhd (fundamental: 0.6/3, valuation: 1.7/3) yesterday triggered our momentum algorithm for the third time this year.

The counter closed three sen or 3.39% higher at 91.5 sen, valuing the company at RM292.83 million. Some 29.95 million shares were traded yesterday, in contrast to its 200-day average trading volume of 3.72 million shares.

For the fourth quarter ended June 30, 2019, the group’s net profit ballooned year-on-year (y-o-y) to RM11.8 million, from RM4.58 million last year. Quarterly revenue grew 68.42% to RM138.91 million, from RM82.38 million.

Financial year 2019 net profit grew 73.01% y-o-y to RM29.7 million, from RM17.17 million last year. Full-year revenue grew 15.45% to RM443.45 million, from RM384.1 million last year. The group attributed the higher full-year earnings and revenue to the acquisition of subsidiary Setegap Venture Petroleum Sdn Bhd, which offset lower revenues from certain projects.