Author: Tan KW | Publish date: Tue, 24 May 2016, 03:12 PM
This article first appeared in The Edge Financial Daily, on May 24, 2016.
Lii Hen Industries Bhd (+ve)
SHARES in Lii Hen Industries Bhd (fundamental: 2.5/3, valuation: 2.4/3) triggered our momentum algorithm for the first time this year as the stock price rose 16 sen or 6.38% to close at RM2.67 yesterday, after 4.08 million shares were traded.
In comparison, the stock’s 200-day average volume was 514,703 shares. Its share price has been trending upwards since the beginning of April; it has risen about 30.2% from RM2.05 on April 4.
Last Friday, the furniture maker proposed a first interim dividend of four sen per share for the financial year ending Dec 31, 2016 (FY16).
For its first quarter ended March 31, 2016 (1QFY16), Lii Hen’s net profit jumped 95.71% to RM21.02 million from RM10.74 million, on a higher revenue and better US dollar conversion rate.
Its revenue rose 47.56% to RM165.39 million from RM112.08 million.
The counter is trading at a trailing price-earnings ratio of 7.9 times and is two times its book value.
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