MESB Bhd (-ve)
TRADING of shares in MESB Bhd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the second time this year.
The counter closed half a sen or 1.39% higher at 36.5 sen last Friday, with a market capitalisation of RM29.89 million. Some 742,300 shares were traded, six times more than the counter’s 200-day average volume of 114,009.5 shares.
MESB is principally engaged in the retailing of leather products such as lady handbags, and gentleman bags under brand names such as Pierre Cardin and Alain Delon.
For the three-month period ended June 30, 2019, the company recorded a net profit of RM4.55 million and a revenue of RM60.84 million. For the cumulative 15-month period ended June 30, 2019, net profit totalled RM7.53 million, while revenue was RM233.87 million. There was no year-on-year comparison as the company changed its financial year end from March 31 to June 30.