Stock With Momentum: Tiong Nam Logistics Holdings
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Stock With Momentum: Tiong Nam Logistics Holdings
Stock With Momentum: Tiong Nam Logistics Holdings
By Asia Analytica / The Edge Financial Daily | July 1, 2016 : 10:50 AM MYT- [You must be registered and logged in to see this image.]
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This article first appeared in The Edge Financial Daily, on July 1, 2016.
Tiong Nam Logistics Holdings Bhd (-ve)
SHARES in Tiong Nam Logistics Holdings Bhd (fundamental: 1.1/3, valuation: 2.4/3) triggered our momentum algorithm yesterday for the second time this week as its share price rose five sen or 3.45% to close at RM1.50, with 5.19 million shares traded. In comparison, its 200-day average volume is 583,316 shares.
The logistics and warehousing services provider posted a net profit of RM36.55 million for the fourth quarter ended March 30, 2016, up 2.81% from RM35.55 million a year ago.
Revenue, however, fell 33.91% to RM126.1 million, from RM190.81 million, mainly due to a decline in property development revenue.
For the full year, Tiong Nam’s net profit rose 9.25% to RM79.62 million, from RM72.88 million in FY15, mainly due to lower income tax expenses. Revenue, however, declined 7.31% to RM572.8 million, from RM618 million.
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