Master-Pack Group Bhd (+ve)
TRADING of shares in Master-Pack Group Bhd (fundamental: 1/3, valuation: 2/3) triggered our momentum algorithm yesterday for the eighth time this year.

The stock gained two sen or 1.53% to close at RM1.33, with 3.78 million shares done, compared with the average 466,565 shares recorded in the past 200 days.

For the second quarter ended June 30, 2019, net profit of the corrugated paper packaging producer more than doubled to RM3.48 million compared with RM1.28 million previously thanks to higher demand from existing customers. Revenue leapt 54% to RM50.56 million from RM32.8 million a year ago.

For the first half, net profit jumped 145% to RM6.58 million against RM2.69 million previously, on the back of revenue that increased 47% to RM98.08 million from RM66.65 million a year ago. During the quarter the group paid a single tier interim dividend of two sen per share amounting to RM1.09 million and was paid on May 10 for the financial year ending Dec 31, 2019.