Yoong Onn Corp Bhd (-ve)

SHARES in Yoong Onn Corp Bhd (fundamental: 2.35/3, valuation: 2.4/3), which triggered our algorithm last Friday for the first time this year, closed up seven sen or 5.47% at RM1.35.

Some 2.02 million shares were traded, exceeding their 200-day average volume of 113,192 shares.

Yoong Onn’s third quarter ended March 31, 2017 net profit climbed 23% to RM7 million from RM5.7 million last year on foreign exchange gains, lower operating cost and provision for certain expenses. Revenue, however, fell 12% to RM46.3 million from RM52.4 million.

It declared a two sen dividend for the financial year ending June 30, 2017 to be paid on July 28.

For the cumulative nine months ended March 31, 2017, net profit rose about 15% to RM18.4 million from RM16.1 million, as revenue dipped 2% to RM142.5 million from RM146.1 million.

At its current share price, Yoong Onn is trading at 1.1 times its book value.