Friday 29 Mar 2024
By
main news image
This article first appeared in The Edge Financial Daily, on March 15, 2017.

 

Wellcall Holdings Bhd (-ve)
SHARES in Wellcall Holdings Bhd (fundamental: 3/3, valuation: 1.5/3) triggered our momentum algorithm for the first time this year. The counter closed five sen or 2.51% higher at RM2.04 yesterday, with 2.13 million shares traded.

It only saw 238,415 shares traded in its 200-day average volume.

The rubber hose manufacturer’s net profit rose 10.93% to RM9.54 million in the first quarter ended Dec 31, 2016 (1QFY17), from RM8.6 million a year ago, on higher revenue.

Revenue grew 11.95% to RM37.85 million from RM33.81 million. It said this was mainly due to the recovery of demand for industrial rubber hoses. The export markets and local market contributed approximately 89% and 11% respectively of the group’s revenue.

Wellcall declared a first interim single-tier dividend of 2.3 sen per share for FY17, payable on March 29. It currently trades at a trailing 12-month price-earnings ratio of 20.61 times.

      Print
      Text Size
      Share