BSL Corp Bhd (+ve)

SHARES in BSL Corp Bhd (fundamental: 1.4, valuation: 0.9) triggered our momentum algorithm for the first time yesterday. The counter closed 1.5 sen or 4.62% higher at 34 sen, with 1.07 million shares traded compared with its 200-day average volume of 64,307 shares.

The group has seen renewed interest in its shares, after its net profit jumped 69 times to RM5.34 million in the fourth quarter ended Aug 31, 2016 (4QFY16), from RM77,000 a year ago, supported by better performance of its printed circuit board segment.

Revenue for 4QFY16 rose 5% to RM26.16 million from RM24.88 million in 4QFY15.

For the full-year FY16, it returned to the black, with a net profit of RM4.76 million compared to a net loss of RM3.57 million the previous year, as revenue climbed 10% to RM108.26 million.

Following the improved results in FY16, BSL saw its share price spike to a four-year high of 39.5 sen on Oct 24, with trades of 7.72 million.