Public Packages Holdings Bhd (-ve)
TRADING of shares in Public Packages Holdings Bhd (fundamental: 2.1/3, valuation: 2.1/3) triggered our momentum algorithm yesterday for the eighth time this year.

The stock settled unchanged after reaching its two-year high of RM1.09 the day before. A total of 17.53 million shares were crossed, sharply higher compared with its 200-day average trading volume of 308,127 shares.

Last week, Public Packages announced that its net profit for the third quarter ended Sept 30, 2019 jumped 63% year-on-year to RM10.1 million, from RM6.21 million previously, while revenue held steady at RM52.58 million.

The company said its manufacturing division was the main contributor and better margins for both manufacturing and trading divisions lifted its overall performance. Its new operations at The Prestige Hotel, which started in June, together with the recovery of bad debt, also contributed to its bottom line.