SCGM Bhd (+ve)
TRADING of shares in SCGM Bhd (fundamental: 0.55/3, valuation: 0.6/3) triggered our momentum algorithm yesterday for the first time this year.

The counter closed three sen or 2.73% lower at RM1.07, with a market capitalisation of RM207.15 million. Some 4.06 million shares were traded, compared with its 200-day average trading volume of 198,813 shares.

The group’s net profit doubled to RM2.2 million for the first financial quarter ended July 31, 2019 (1QFY20), from RM1.06 million a year ago, on lower tax expenses due to the utilisation of capital allowances.

However, quarterly revenue declined by a marginal 0.26% to RM55.66 million from RM55.81 million for 1QFY19. The group attributed the lower revenue to lower exports.