Stock With Momentum: REDtone International

TheEdge Wed, Oct 09, 2019 11:23am - 4 years View Original


REDtone International Bhd (+ve)
TRADING of shares in REDtone International Bhd (fundamental: 2.1/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the ninth time this year.

The counter closed up one sen or 1.77% at 57.5 sen. A total of 10.3 million shares were traded, exceeding its 200-day average volume of 2.49 million shares. Year-to-date, the stock’s share price has surged three times from 17 sen.

For the two months ended June 30, 2019, REDtone’s net profit stood at RM6.48 million, while revenue was at RM32.53 million.

There was no comparison numbers for previous year corresponding period due to the change in its financial year end.

For the cumulative 14 months ended June 30, 2019, it posted a net profit of RM21.84 million on a revenue of RM211.46 million.

At the current share price, REDtone is trading at 2.68 times its book value.

 

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