Stock With Momentum: Golden Pharos
Golden Pharos Bhd (-ve)
SHARES in Golden Pharos Bhd (fundamental: 1.8/3, valuation: 1.1/3) triggered our proprietary momentum algorithm last Friday for the first time this year.
The counter closed 2.5 sen or 9.26% higher at 29.5 sen, giving it a market capitalisation of RM39.018 million. Some 802,300 shares were traded, exceeding the counter’s 200-day average volume of 105,022 shares. Its shares were trading below book value.
Golden Pharos returned to the black, recording a net profit of RM1 million for the first quarter ended March 31, 2018 compared to a net loss of RM3.18 million a year ago. Quarterly revenue grew to RM15.89 million from RM8.42 million. The group said the improved results were primarily driven by the favourable performance of its harvesting, sawmilling and kiln-drying segment.
Moving forward, Golden Pharos expects the market environment and construction project situation to pose greater challenges to its glass segment.
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