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Stock With Momentum: Cepatwawasan Group

TheEdge Fri, Aug 25, 2017 10:52am - 2 years ago

Cepatwawasan Group Bhd (+ve)
SHARES in Cepatwawasan Group Bhd (fundamental: 0.85/3, valuation: 2/3), which triggered our momentum algorithm yesterday for the first time this year, closed 4.5 sen or 4.79% higher at 98.5 sen.

It saw 13 million shares traded, compared with its 200-day average volume of 680,584 shares.

The Sabah-based palm oil company’s net profit jumped 91% to RM9.68 million for the second quarter ended June 30, 2017, from RM5.07 million a year earlier, as revenue grew 37% to RM70.35 million from RM51.28 million.

The group attributed the improved quarterly earnings mainly to an increase in the sales volume of crude palm oil by 33%, palm kernel by 32%, and fresh fruit bunches (FFB) by 46%.

FFB production was also up 15%, while a better milling margin and higher exports of electricity and empty fruit bunch oil selling prices also boosted profits. The stock is trading at 0.6 times its book value.

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