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Stock With Momentum: Mycron Steel
by Cals Mon 04 Apr 2016, 02:05
Stock With Momentum: Mycron Steel
By Asia Analytica / The Edge Financial Daily | April 1, 2016 : 10:57 AM MYTThis article first appeared in The Edge Financial Daily, on April 1, 2016.
Mycron Steel Bhd (-ve)
Shares of Mycron Steel Bhd (fundamental: 0.8/3; valuation: 1.1/3), which has gained 8 sen or 25% in the past week from its closing of 31.5 sen on March 23, triggered our momentum algorithm yesterday for the second time.
After 1.7 million shares changed hands throughout the trading session, the counter closed down 0.5 sen or 1.25% at 39.5 sen.
For the second quarter ended Dec 31, 2015 (2QFY16), the company made a net profit of RM5.34 million, versus a net loss of RM4.25 million in the previous year. Revenue was also higher at RM144.13 million, compared to RM135 million a year earlier.
For the first half of its financial year, net profit stood at RM8.17 million, compared to a net loss of RM6.43 million in the preceding year, while its revenue rose 14% to RM275.99 million from RM242.94 million.
Mycron currently trades at 0.4 times its book value. The company did not recommend any dividend in FY15.
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