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Stock With Momentum: OCK Group

TheEdge Thu, Sep 12, 2019 10:20am - 5 months ago

OCK Group Bhd (+ve)
TRADING of shares in OCK Group Bhd (fundamental: 0.8/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the second time this year.

The stock closed four sen or 6.56% higher at 65 sen. A total of 28.66 million shares were traded compared with the average 4.51 million shares recorded in the past 200 days.

For the second quarter ended June 30, 2019, the telecommunications network services provider’s net profit jumped 66% to RM6.99 million versus RM4.22 million a year ago, mainly due to higher revenue contributions from mechanical and electrical engineering services.

Revenue for the quarter was RM115.84 million, up marginally from RM115.55 million a year ago.

For the first half, net profit rose 32% to RM12.33 million compared with RM9.35 million, on the back of higher revenue which rose 3% to RM219.33 million from RM213.06 million a year ago.

Despite a competitive telecommunication industry landscape, OCK is expecting a positive growth trajectory for the group going forward.

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