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Stock With Momentum: Protasco
by Cals Thu 07 Apr 2016, 01:06
Stock With Momentum: Protasco
By Asia Analytica / The Edge Financial Daily | April 6, 2016 : 11:02 AM MYTThis article first appeared in The Edge Financial Daily, on April 6, 2016.
Protasco Bhd (+ve)
SHARES of Protasco Bhd (fundamental: 1.3/3; valuation: 1.4/3) triggered our momentum algorithm for the first time yesterday. The counter rose as much as 4.4% or 7 sen to RM1.66, before easing a little to settle at RM1.65, up 6 sen or 3.8%.
It saw 10.61 million shares traded, compared with its 200-day average of 1.03 million. The counter has risen 16.2% from the RM1.42 seen on March 9.
Protasco secured a 10-year extension for its maintenance work concession for the Peninsular Federal Road from the government last month. The concession is expected to contribute positively to Protasco for the financial year ending Dec 31, 2016 (FY16).
It returned to black in FY15 with a net profit of RM66.24 million compared to a net loss of RM46.44 million in FY14, while revenue rose 21.7% to RM1.29 billion from RM1.06 billion.
The stock currently trades at a trailing 12-month P/E of 8.07 times and is at 1.47 times its book value. Its trailing 12-month dividend yield is at 5.02%.
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