Stock With Momentum: Imaspro Corp

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Stock With Momentum: Imaspro Corp

Post by Cals on Wed 22 Jun 2016, 01:00

Stock With Momentum: Imaspro Corp

By Asia Analytica / The Edge Financial Daily   | June 21, 2016 : 10:28 AM MYT





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Stock With Momentum: Imaspro Corp

By Asia Analytica / The Edge Financial Daily   | June 21, 2016 : 10:28 AM MYT   
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This article first appeared in The Edge Financial Daily, on June 21, 2016.
 
Imaspro Corp Bhd (+ve)
SHARES in Imaspro Corp Bhd (fundamental: 1.45/3, valuation: 0.8/3) triggered our momentum algorithm for the first time this month, after 1.12 million shares changed hands. The counter closed one sen or 0.46% lower at RM2.17 sen yesterday.
Businessman Datuk Dr Yu Kuan Chon has recently upped his stake in Imaspro, bringing his direct stake in the company to 12.31 million shares or 15.386%.
For the third quarter ended March 31, 2016, Imaspro’s net profit dropped 39% year-on-year to RM2.79 million from RM4.54 million, in line with the 45% decline in revenue to RM20.99 million from RM38.14 million in the same period.
The weaker performance was attributed to lower demand in both local and overseas segments, which translated to lower sales for the quarter.
For the cumulative nine-month period, net profit was lower at RM7.04 million, compared with RM8.82 million in the previous year, while revenue fell 28% to RM59.02 million from RM82.28 million.
“The group will continue to focus on its core activities and market expansion, cost control to ensure sustainability of its financial performance,” it said when announcing the results.
The stock currently trades at 1.41 times its book value. The company has consistently paid dividends of three sen per share over the past five years.

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