JAYCORP Bhd (-ve)
JAYCORP Bhd (fundamental: 2.1/3, valuation: 2.4/3), which also made it to our Stocks with Momentum list yesterday for the first time this year, closed 10.5% or 9.5 sen higher at RM1. The counter saw 1.86 million shares traded, in contrast to its 200-day average trading volume of 45,990 shares.

On Tuesday, Jaycorp announced that its net profit for the second quarter of financial year 2019 ended Jan 31, 2019 jumped to RM4.95 million from RM218,000 for the same quarter a year ago, while revenue grew 10% to RM83.13 million from RM75.74 million. The group attributed its stellar quarterly performance to stronger profit contributions across all segments of its business.

For the cumulative six months ended Jan 31, 2019, the group’s net profit jumped 87% to RM11.3 million from RM6.03 million, while revenue grew 11% to RM175.49 million from RM157.46 million.

The group also announced its first interim dividend of three sen per share, payable on April 30.