Stock With Momentum: Daibochi
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Stock With Momentum: Daibochi
Stock With Momentum: Daibochi
By Asia Analytica / The Edge Financial Daily | July 13, 2016 : 10:11 AM MYTThis article first appeared in The Edge Financial Daily, on July 13, 2016.
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Daibochi Plastic & Packaging Bhd (-ve)
SHARES in Daibochi (fundamental: 1.7/3, valuation: 1.7/3) triggered our momentum algorithm for the first time yesterday with 62,500 shares traded.
The group manufactures and prints plastic bags and packaging materials catering to food, beverage, FMCG pharmaceutical and industrial uses. It is also involved in property development.
In its first quarter ended March 31, 2016 (1QFY16), its net profit grew 5.2% to RM6.51 million from RM6.19 million a year ago in line with its revenue growth of 4.1% to RM89.7 million in 1QFY16 from RM86.2 million in 1QFY15.
Compared with a year ago, its share price has risen by 22.4% although it has seen a decline of 7.3% year-to-date. The group has a 52-week share price range of RM1.67 to RM2.44.
At the current price of RM2.12, it has a decent dividend yield of 2.77% while trading at a trailing price-earnings ratio of 24.9 times. It has a market capitalisation of RM577.04 million at current level
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