UMA JHM Consolidation gets UMA query after shares hit all time high

by **Cals** Thu 09 Jun 2016, 02:42

UMA

[size=28]JHM Consolidation gets UMA query after shares hit all time high

By Gho Chee Yuan / theedgemarkets.com | June 8, 2016 : 6:04 PM MYT

KUALA LUMPUR (June 8): JHM Consolidation Bhd was slapped with an unusual market activity (UMA) query today, after its shares surged 72.13% over the past two weeks to hit a record high.

Today, the stock rose 8.5 sen or 8.81% to RM1.05, giving it a market value of RM123 million.

The upward trajectory began on May 26 when the counter was trading at 61 sen. It rose as much as 45 sen or 73.77% to hit an intraday high of RM1.06 this afternoon. A total of 3.3 million shares were traded today.

Its 65 days average trading volume is 1.57 million shares.

In its query, the stock exchange asked the Penang-based electronic component manufacturer to state if there is any corporate development, rumour or reports in relation to its business affairs that may account for the share price movement.

On May 30, JHM Consolidation released its results for the first quarter ended March 31, 2016 (1QFY16), which showed net profit rising 53% to RM2.75 million from RM1.79 million a year ago, due to higher volume loadings from customers, coupled with the productivity improvement carried out in the group.

Revenue was 83% higher at RM45.65 million, from RM25.05 million.

With the improvement of demand in light-emitting diode (LED) lamps of automotive industry and the expansion of production capacity by the group, JHR remains optimistic of achieving a satisfactory performance in the coming financial quarter.
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