Stock With Momentum: Unimech Group

May 02, 2019 10:28 am +08

Unimech Group Bhd (+ve)

Trading of shares in Unimech Group Bhd (fundamental:1.00/3, valuation:2.60/3) triggered our momentum algorithm on Tuesday for the third time this year.

The stock closed 3.57% or four sen higher at RM1.16, after 1.42 million shares were done — sharply higher than the average 161,119.5 shares that crossed in the past 200 days.

On Monday, the industrial valves maker announced a 2.3 sen final dividend for its financial year ended Dec 31, 2018, payable on July 11. The stock will go ex-dividend on June 26. This will bring its payout for FY18 to 3.8 sen, versus the three sen payout it declared for FY17.

The group’s net profit jumped 61% to RM18.8 million in FY18, from RM11.67 million in FY17, as revenue climbed 12.2% to RM276.92 million from RM246.79 million — mainly due to higher demand in its core business, particularly from Indonesia, Thailand and Vietnam.