Author: Tan KW | Publish date: Tue, 24 May 2016, 03:11 PM
This article first appeared in The Edge Financial Daily, on May 24, 2016.
Yoong Onn Corp Bhd (-ve)
SHARES in Yoong Onn Corp Bhd (fundamental: 2.5/3, valuation: 3/3) also triggered our momentum algorithm yesterday for the first time this year.
The counter closed 4.5 sen or 4.67% higher at RM1.01 yesterday, with 1.34 million shares traded. In comparison, its 200-day average volume is only around 315,937 shares.
Yoong Onn is the designer, manufacturer, distributor and retailer of home linen and bedding accessories for domestic and export markets.
For its second financial quarter ended Dec 31, 2015 (2QFY16), its net profit fell 14.87% to RM5.61 million from RM6.59 million a year ago, mainly due to higher operating expenses and a lower other operating income.
Its revenue, however, was 2.25% higher at RM51.34 million on higher export and retail boutique sales.
The counter is trading at a trailing price-earnings ratio of 8.06 times and is 0.94 times its book value.
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