Warisan TC Holdings Bhd (-ve)
TRADING of shares in Warisan TC Holdings Bhd (fundamental: 0.4/3, valuation: 1.4/3) triggered our momentum algorithm yesterday for the first time this year.
The stock closed five sen or 2.36% higher at RM2.17 yesterday, with a thin trade of 1,300 shares done, compared with its average of 94,600 shares recorded in the past 200 days.
For the first quarter ended March 31, 2019, the group reported a net profit fall of 56% to RM896,000, from RM2.04 million in the previous year, on lower revenue. Earnings per share more than halved to 1.38 sen from 3.13 sen previously. Quarterly revenue fell 7% to RM112.9 million from RM121.07 million a year ago as the group reported lower contributions across its machinery, travel and car rental, as well as automotive divisions.
Despite the challenging market environment, the group expects to remain resilient and ensure growth in the current year.