HIL Industries Bhd (-ve)
SHARES in HIL Industries Bhd (fundamental: 1.5/3, valuation: 1.4/3), which triggered our momentum algorithm yesterday for the second time this year, closed up two sen or 2.1% at 97.5 sen, after 528,100 shares were traded.
HIL Industries is involved in plastic injection moulding as well as property development.
For the nine months ended Sept 30, 2016 (9MFY16) HIL Industries reported a 32.6% drop in net profit to RM9.64 million, from RM14.3 million a year ago, as revenue declined 24% to RM69.89 million, from RM91.92 million.
The top-line decline was due to lower sales from major customers in its manufacturing sector, as a result of the slowdown in market conditions for both the group’s Malaysian and overseas market production.
The stock is currently trading at 0.86 times its book value
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