Stock With Momentum: Priceworth International

TheEdge Wed, Dec 19, 2018 10:52am - 5 years View Original


Priceworth International Bhd (+ve)

TRADING of shares in Priceworth International Bhd (fundamental: 0.95/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the first time this year.

The group’s shares settled 0.5 sen or 8.33% lower at 5.5 sen apiece, with a market capitalisation of RM224.53 million. A total of 60.3 million shares were traded, versus its 200-day average trading volume of 21 million shares.

In the first quarter ended Sept 30, 2018 (1QFY19), the group saw a net loss of RM17.94 million versus a net profit of RM1.13 million in the previous year, as revenue fell 71.6% to RM11.69 million from RM41.15 million a year ago.

The weak 1QFY19 performance was due to a temporary cessation of logging operations to facilitate the widely reported verification by the authorities. The Sabah government announced in July that a special task force will be investigating illegal logging activities, after the state banned the export of timber.

Priceworth International is now trading at 0.39 times its net book value.

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

PWORTH 0.100

Comments

Login to comment.