UPA Corp Bhd (-ve)
SHARES in UPA Corp Bhd (fundamental: 2.5/3, valuation: 2/3) closed down eight sen or 3.57% at RM2.16 with a trading volume of 118,700 shares, surpassing the counter’s 200-day average of 14,945 shares. This was the first time this year that the counter triggered our momentum algorithm.
The company is involved in the manufacturing of diaries and other paper-related products, reconditioning and refurbishment of used printing and printing-related machines, as well as manufacturing of packaging materials in rigid films.
In the third quarter ended Sept 30, 2016, its net profit dropped 76.14% to RM1.36 million from RM5.7 million a year ago. Revenue fell 33.33% to RM30.16 million from RM45.24 million. For the nine months ended Sept 30, 2016, its net profit fell more than half to RM6.14 million from RM12.47 million. Revenue declined 13.81% to RM111.71 million from RM129.61 million.