Stock With Momentum: K-Star Sports Ltd
K-Star Sports Ltd (+ve)
SHARES in K-Star Sports Ltd (fundamental: 0.15/3; valuation: 0.9/3) triggered our stocks with momentum algorithm last Friday for the first time this month.
The stock closed down 4.54% or 0.5 sen to 10.5 sen last Friday, with 16.65 million shares done versus the counter’s 200-day average of 3.62 million shares.
K-Star Sports is principally engaged in the design, manufacture and distribution of sports footwear, based mainly in China.
For the first quarter ended March 31, 2018 (1QFY18), it posted a net profit of RM1.35 million compared with a net loss of RM5.5 million in the previous year on cost efficiencies and higher margins.
Earnings per share stood at 0.42 sen in the quarter compared with a loss per share of 2.03 sen in 1QFY17. Revenue increased slightly to RM48.11 million from RM48.03 million a year ago. Star Sports was last traded at 6.89 times its net book value.
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