Stock With Momentum: SKP Resources

TheEdge Mon, Jan 20, 2020 10:39am - 4 years View Original


SKP Resources Bhd (-ve)

Plastic parts manufacturer SKP Resources Bhd (valuation: 0.5/3, fundamental: 2.1/3) saw its shares trigger our momentum algorithm for the first time in two years, as trading volume surged to 13.8 million shares last Friday, versus its 200-day average of 1.42 million shares.

SKP shares closed five sen or 3.33% higher at their 15-month high of RM1.55, with a market capitalisation of RM1.94 billion.

The share price performance was subdued in 2018 and 2019, coming off from its record performance in the financial year ended March 31, 2018 (FY18) where revenue breached the RM2 billion mark, which contributed to its record profit of RM127.09 million.

For the first half of FY20, SKP made a net profit of RM43.4 million, with a revenue of RM849.4 million.

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