Stock With Momentum: Omesti
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Stock With Momentum: Omesti
Stock With Momentum: Omesti
Omesti Bhd (-ve)
OMESTI (Fundamental: 1.05/3, Valuation: 0.9/3) gained 20.97% to end at 75 sen last Friday with 19.9 million shares traded, ahead of the release of earnings results for 4QFYMar2015. Notably, its subsidiary, Microlink Solutions Bhd([You must be registered and logged in to see this image.] Financial Dashboard) also added 18.06% to close at RM 1.70.
Both shares have been on the upward trajectory after Microlink released a strong set of FYMarch2015 (for a 15-month period) results on the 20th of May. To recap, Microlink’s 4QFY15 revenue and profits rose six-fold to RM61.9 million and RM9.2 million, respectively, mainly due to higher software sales and consolidation of results of newly acquired entities.
Investors likely expect Microlink’s earnings to lift Omesti’s fortunes — the IT services provider made net loss totaling RM4.8 million in 9MFY15. Microlink is involved in the provision of banking software solutions.
It should be noted that some of Omesti’s substantial shareholders have been paring down their stakes in the company.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on June 1, 2015.
Omesti Bhd (-ve)
OMESTI (Fundamental: 1.05/3, Valuation: 0.9/3) gained 20.97% to end at 75 sen last Friday with 19.9 million shares traded, ahead of the release of earnings results for 4QFYMar2015. Notably, its subsidiary, Microlink Solutions Bhd([You must be registered and logged in to see this image.] Financial Dashboard) also added 18.06% to close at RM 1.70.
Both shares have been on the upward trajectory after Microlink released a strong set of FYMarch2015 (for a 15-month period) results on the 20th of May. To recap, Microlink’s 4QFY15 revenue and profits rose six-fold to RM61.9 million and RM9.2 million, respectively, mainly due to higher software sales and consolidation of results of newly acquired entities.
Investors likely expect Microlink’s earnings to lift Omesti’s fortunes — the IT services provider made net loss totaling RM4.8 million in 9MFY15. Microlink is involved in the provision of banking software solutions.
It should be noted that some of Omesti’s substantial shareholders have been paring down their stakes in the company.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on June 1, 2015.
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