TPC Plus Bhd (-ve)

SHARES in egg producer TPC Plus Bhd (fundamental: 0.6/3, valuation: 0.3/3), which triggered our momentum algorithm yesterday for the first time this year, closed 0.5 sen or 1.12% higher at 45 sen.

It saw 202,000 shares traded, almost double its 200-day average volume of 101,088 shares.

For the first half of the financial year ended June 30, 2017 (1HFY17), TPC Plus reported a net loss of RM2.9 million compared to a net profit of RM1.94 million a year ago, on lower margins as well as higher operating expenses.

Revenue for 1HFY17 fell 7.8% year-on-year to RM38 million from RM41.21 million, due to lower average selling prices of eggs.

Last November, the group’s Practice Note 17 status was uplifted as it had managed to regularise its financial condition.

At the current share price, TPC Plus is trading at 1.5 times its book value.