Media Chinese International Ltd (+ve)
TRADING of shares in Media Chinese International Ltd (fundamental: 1.55/3, valuation: 1.8/3) triggered our momentum algorithm yesterday for the first time since February 2017. The stock gained three sen or 13.6% at 25 sen yesterday, with 8.02 million shares done, exceeding its 200-day average trading volume of 896,695 shares.

A lower contribution from the publishing and printing segment has dragged Media Chinese’s net profit to RM12.39 million in the second quarter ended Sept 30, 2018 (2QFY19), down 11.25% against RM13.96 million in the previous corresponding period.

Revenue grew 7.25% to RM354.37 million in 2QFY18, from RM330.4 million a year ago. The group declared an interim dividend of 0.72 sen per share for the financial year ending March 31, 2019 (FY19), payable on Dec 28.

For the cumulative six months (1HFY19), net profit was up 5.48% to RM24.98 million, from RM23.68 million. Revenue grew 9.15% to RM693.7 million, from RM635.54 million last year. At the current share price, Media Chinese is trading at 0.55 times its book value.