Stock With Momentum: PCCS Group
PCCS Group Bhd (+ve)
TRADING of shares in PCCS Group Bhd (fundamental: 1.40/3, valuation: 2.40/3) triggered our momentum algorithm for the first time this year.
The stock gained three sen to 26 sen, with 3.4 million shares traded yesterday, in comparison with its 200-day average trading volume of 283,069 shares.
On Tuesday, PCCS announced that it returned to the black for the third financial quarter ended Dec 31, 2018 (3QFY19), with a net profit of RM4.55 million, compared to a net loss of RM18,000 for the corresponding quarter in 2017. Quarterly revenue decreased by 8.72% to RM111.93 million from RM122.63 million.
For the nine months ended Dec 31, 2018 (9MFY19), the group posted a net profit increase of 181.52% to RM13.76 million, from RM4.89 million a year ago, on the back of its Cambodian apparel business and its Malaysian labelling business. Accumulative revenue fell by 21.25% to RM320.69 million from RM407.73 million due to a slowdown in its Chinese apparel segment.
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