Stock With Momentum: Green Packet Bhd

This article first appeared in The Edge Financial Daily, on September 11, 2019.
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Green Packet Bhd (+ve)
TRADING of shares in Green Packet Bhd (fundamental: 0.35/3, valuation: 0/3) triggered our momentum algorithm yesterday for the 14th time this year. The last time the counter triggered our momentum algorithm was on Aug 23.

The stock closed unchanged at 66.5 sen, valuing the company at RM605.75 million. A total of 34.15 million shares were traded yesterday compared with the counter’s 200-day average trading volume of 6.51 million shares.

For the second quarter ended June 30, 2019 (2QFY19), Green Packet’s net loss narrowed to RM9.31 million from RM10.22 million a year ago. Quarterly revenue grew to RM124.33 million from RM103.59 million in 2QFY18.

For the first half of financial year 2019 (1HFY19), the group’s net loss widened to RM23.2 million from RM17.27 million a year ago. Revenue rose to RM222.26 million from RM210.31 million in 1HFY18.