VisDynamics Holdings Bhd (+ve)

SHARES in VisDynamics Holdings Bhd (fundamental: 1.8/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the first time this month, closed up 2.5 sen or 11.11% at 25 sen per share.

The counter saw 3.01 million shares traded yesterday, compared with its 200-day average volume of 394,986 shares.

VisDynamics’ share price climbed after reporting better financial performance for the third quarter ended July 31, 2016 (3QFY16), gaining two sen or 10% to close at 22 sen on Sept 23, from the preceding day’s close of 20 sen.

Its 3QFY16 net profit spiked to RM1.97 million, from the preceding year’s RM50,000, while revenue soared 222% to RM8.07 million from RM2.51 million, on higher sales of machines during the quarter.

For the nine months ended July 31, 2016, net profit stood at RM2.15 million, versus RM318,000 in the previous year, as revenue rose 84% to RM15.73 million from RM8.57 million.

The stock is now trading at 1.15 times its net book value.