Goodway Integrated Industries Bhd (-ve)

TRADING in shares of Goodway Integrated Industries Bhd (fundamental: 0.75/3, valuation: 0.90/3) triggered our momentum algorithm last Friday for the first time this year.

The counter rose 2.5 sen, or 10%, to close at 27.5 sen, with a market capitalisation of RM30.39 million. A total of 17.11 million shares changed hands, compared with its 200-day average volume of 1.77 million shares.

Goodway had in November 2017 announced that it was changing its financial year end to June 30 from Dec 31.

On Aug 23, Goodway reported a net profit of RM747,000 for the financial year ended June 30, 2018, while it recorded revenue of RM45.83 million.

For the cumulative period, it reported a net profit of RM2.22 million compared to a net loss of RM45.62 million, while its revenue rose 14.2% to RM179.42 million from RM157.12 million.

Going forward, the group will focus on two main businesses, namely compounding and property development.