Stock With Momentum: Vitrox Corp

This article first appeared in The Edge Financial Daily, on July 26, 2017.
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Vitrox Corp Bhd (+ve)
SHARES in Vitrox Corp Bhd (fundamental: 3/3, valuation: 1.1/3), which triggered our momentum algorithm yesterday for the second time this year, closed 17 sen or 4.27% higher at RM4.15 yesterday. Some 762,700 shares were done, compared with their 200-day average volume of 156,559 shares.

The company is involved in developing and producing automated vision inspection systems and digital automated vision inspection equipment and modules.

In its first quarter ended March 31, 2017, net profit grew 19% to RM18.57 million, from RM15.6 million a year ago, mainly on higher earnings from its automated board inspection division. Revenue was up 24% to RM69.61 million from RM56.03 million.

At the current share price, Vitrox is trading at 3.49 times its book value.