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Stock With Momentum: Eita Resources

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Stock With Momentum: Eita Resources

Post by Cals Thu 10 Dec 2015, 00:56

Stock With Momentum: Eita Resources

By Asia Analytica / The Edge Financial Daily | December 9, 2015 : 10:23 AM MYT.

This article first appeared in The Edge Financial Daily, on December 9, 2015.

[size=16]Eita Resources Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 2.40) (-ve)
EITA (Fundamental: 2.4/3, Valuation: 2/3) has gained 33% to RM1.49 since declaring a 2 sen dividend and announcing its 4QFYSep2015 results two weeks earlier.
For the quarter, revenue rose 35.6% y-y to RM58.5 million while profit before tax (PBT) jumped an outsized 205.5% to RM13.3 million. Note that the improvement in PBT margins was mainly due to RM8.8 million in fair value gains on forward exchange contracts. Excluding this, PBT would have increased by only 3.8%.
EITA is involved in manufacturing elevator and busduct systems. The company also markets and distributes E&E equipment and components for power distribution. These two business segments accounted for 88.9% of its FY2015 revenue.
On November 25, EITA announced that it will be acquiring and subscribing to shares in Transsystem Continental Sdn Bhd for RM1.4 million. The move will allow EITA to cover a wider portfolio within its existing power distribution business.
[You must be registered and logged in to see this image.]

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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