Astino Bhd (-ve)

TRADING of shares in Astino Bhd (fundamental: 1.7/3, valuation: 2/3) triggered our momentum algorithm yesterday for the first time since Jan 29, 2018.

The metal roofing and scaffolding manufacturer’s shares closed 3.42% or 2.5 sen higher at 75.5 sen, after 475,600 shares were traded, 10 times the counter’s 200-day average trading volume of 47,440 shares.

For the first quarter ended Oct 31, 2019, the group’s net profit rose 27.21% to RM4.11 million from RM3.23 million for the corresponding quarter a year prior, as revenue grew 9.2% to RM152.82 million from RM139.94 million.

The higher top- and bottom-line earnings were on the back of an increase in demand for its products locally as well as overseas. In particular, its overseas sales saw higher profit margins.