Kim Loong Resources Bhd (-ve)
SHARES in Kim Loong Resources Bhd (fundamental: 2.5/3, valuation: 1.4/3), which triggered our momentum algorithm yesterday for the first time this year, closed five sen or 1.5% higher at RM3.49 yesterday with 126,400 shares traded.
In comparison, the plantation counter’s 200-day average trading volume was just 52,617 shares.
In the second quarter ended July 31, 2016, Kim Loong’s net profit fell 23.76% to RM17.04 million from RM22.35 million, mainly because the bottom line was affected by its milling operations.
Revenue for the quarter fell 1.2% to RM210.8 million from RM213.36 million.
For the six-month period, Kim Loong’s net profit fell 20.68% to RM29.45 million from RM37.13 million. Revenue, however, rose 3.3% to RM388.5 million from RM376.23 million.
The stock currently trades at a trailing 12-month price-earnings ratio of 16.19 times and is 1.81 times its book value. It has a trailing 12-month dividend yield of 3.78%.