Stock With Momentum: Master-Pack Group
Master-Pack Group Bhd (-ve)
TRADING of shares in Master-Pack Group Bhd (fundamental: 1/3, valuation: 2/3) triggered our momentum algorithm yesterday for the 10th time this year.
The counter closed up three sen or 2.22% at RM1.38 yesterday, with 1.89 million shares done, exceeding its 200-day average volume of 528,517 shares. Over the past year, its share price has surged some 130% from when it was trading at 60 sen.
The corrugated paper packaging producer’s net profit jumped 171% to RM3.48 million in the second quarter ended June 30, 2019 (2QFY19), from RM1.28 million a year ago, as it records higher revenue following a surge in demand from existing customers.
Revenue grew 54.16% to RM50.56 million from RM32.8 million. The group has paid an interim dividend of two sen per share amounting to RM1.09 million for FY19.
At the current share price, Master-Pack is trading at 0.78 times its book value.
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