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Stock With Momentum: Aluminium Company of Malaysia
by Cals Tue 10 May 2016, 10:19
Stock With Momentum: Aluminium Company of Malaysia
By Asia Analytica / The Edge Financial Daily | May 9, 2016 : 11:09 AM MYTThis article first appeared in The Edge Financial Daily, on May 9, 2016.
Aluminium Company of Malaysia Bhd (-ve)
Aluminium Company of Malaysia Bhd (fundamental: 2.25/3, valuation: 1.80/3) triggered our momentum algorithm after the counter closed three sen or 3.29% higher at 91.5 sen, with 557,800 shares traded last Friday.
The counter rose as much as 5.5 sen or 6.21% to 94 sen in earlier trades. In comparison, the counter’s 200-day average volume was 35,008 shares.
The group returned to profit for the third quarter ended Dec 31, 2015 (3QFY16) by achieving a net profit of RM3.11 million, compared to a net loss of RM1.65 million in 3QFY15.
The group also registered a net profit of RM2.14 million for its first nine months ended Dec 31, 2015, compared to a net loss of RM3.93 million a year ago.
The manufacturer of aluminium-rolled products said the improved revenues per tonne, especially in export sales, and a tight rein on direct costs were the main contributory factors for the improved results.
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