Stock With Momentum: MClean Technologies

TheEdge Fri, Mar 06, 2020 09:44am - 4 years View Original

MClean Technologies Bhd (+ve)

TRADING of shares in MClean Technologies Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our algorithm yesterday for the first time this month.

The stock closed unchanged at 37 sen with 30.13 million shares done, more than seven times its 200-day average volume of 4.9 million shares.

MClean posted a net profit of RM250,000 for its fourth quarter ended Dec 31, 2019, its second consecutive quarter in the black, against a net loss of RM3.13 million in the previous year’s corresponding quarter. The improved financial performance came despite a 3% decline in revenue to RM15.93 million from RM16.4 million.

MClean attributed the stronger earnings to better margins in the surface treatment and precision cleaning segment, as well as lower other expenses.

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