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Stock With Momentum: Kumpulan Europlus
by Cals Tue 14 Jun 2016, 02:27
Stock With Momentum: Kumpulan Europlus
By Asia Analytica / The Edge Financial Daily | June 13, 2016 : 10:06 AM MYTThis article first appeared in The Edge Financial Daily, on June 13, 2016.
Kumpulan Europlus Bhd (+ve)
SHARES in Kumpulan Europlus Bhd (fundamental: 3/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the first time this year.
The counter ended trading hours 2.5 sen or 2.7% higher at 95 sen, after 1.75 million shares were traded, compared to its 200-day average volume of 175,923 shares.
One of the group’s major projects is the West Coast Expressway (WCE), which is a 233km tolled highway from Banting, Selangor to Taiping, Perak. The WCE is a build-operate-transfer project with a concession period of up to a maximum of 60 years, at a total cost of RM5.9 billion.
The group returned to the black in its fourth financial quarter ended March 31, 2016 (4QFY16) with a net profit of RM1.88 million compared to a net loss of RM23.94 million a year ago, as a result of the reversal of an impairment provision for an associate.
Revenue for 4QFY16 also surged by more than 18 times to RM210.82 million due to higher construction revenue from the highway project.
At the current share price, Kumpulan Europlus is trading at 1.5 times its book value.
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