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Stocks With Momentum: Mieco Chipboard
by Cals Sun 08 Mar 2015, 20:21
Stocks With Momentum: Mieco Chipboard
By theedgemarkets.com / theedgemarkets.com | March 6, 2015 : 11:16 AM MYT
[size=14]Mieco Chipboard Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
PARTICLEBOARD manufacturer, Mieco (Fundamental: 0/3, Valuation: 1.2/3) was picked out by our momentum algorithm several times over the past one month. Its share price has been rising steadily on active trading, gaining 82.7% for the year to date to close at a high of 68.5 sen yesterday.
The company reported an earnings turnaround in its latest 4Q2014 results (released on February 25). Turnover grew 9.2% y-o-y while net profit totaled RM18.3 million, boosted by a RM16.1 million gain on disposal of its land and buildings in Semambu, Pahang. This compared to net loss of RM63 million in 2013, which was due, in part, to impairment loss of RM45.8 million on its Kuala Lipis plant.
The improved operations helped pare net debt from RM131 million in 2013 to RM95 million. Gearing now stands at 34.6%. The company did not recommend any dividend for the year.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 6, 2015.
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By theedgemarkets.com / theedgemarkets.com | March 6, 2015 : 11:16 AM MYT
[size=14]Mieco Chipboard Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) (+ve)
PARTICLEBOARD manufacturer, Mieco (Fundamental: 0/3, Valuation: 1.2/3) was picked out by our momentum algorithm several times over the past one month. Its share price has been rising steadily on active trading, gaining 82.7% for the year to date to close at a high of 68.5 sen yesterday.
The company reported an earnings turnaround in its latest 4Q2014 results (released on February 25). Turnover grew 9.2% y-o-y while net profit totaled RM18.3 million, boosted by a RM16.1 million gain on disposal of its land and buildings in Semambu, Pahang. This compared to net loss of RM63 million in 2013, which was due, in part, to impairment loss of RM45.8 million on its Kuala Lipis plant.
The improved operations helped pare net debt from RM131 million in 2013 to RM95 million. Gearing now stands at 34.6%. The company did not recommend any dividend for the year.
[You must be registered and logged in to see this image.]
This article first appeared in The Edge Financial Daily, on March 6, 2015.
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