T7 Global Bhd (+ve)
SHARES in T7 Global Bhd (fundamental: 2.05/3, valuation: 0.3/3), formerly known as Tanjung Offshore Bhd, which triggered our momentum algorithm yesterday, closed up six sen or 16.7% at 42 sen.
It saw 4.11 million shares done, far exceeding its 200-day average volume of 259,926 shares.
The company, which is involved in provision of engineering equipment packages, maintenance services and production platform services for the oil and gas industry, reported a net profit for the fourth quarter ended Dec 31, 2016 of RM9.04 million, against a net loss of RM26.35 million in the previous corresponding quarter.
Quarterly revenue jumped up 98% to RM37.28 million, from RM18.81 million, on improved contributions from its engineered packages, and products and services division.
The group did not declare any dividend for the quarter.
At the current share price, T7 Global is trading at 1.31 times its book value.
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