Stock With Momentum: MB World Group
Stock With Momentum: MB World Group
MB World Group Bhd (-ve)
SHARES in MB World Group Bhd (fundamental: 2.3/3, valuation: 1.1/3), which triggered our momentum algorithm for the third time this year, closed one sen or 0.61% higher yesterday at RM1.66.
The stock saw some 75,100 shares done, versus its 200-day average trading volume of 84,001 shares.
MB World’s net profit jumped 162% year-on-year (y-o-y) to RM6.24 million in its second quarter ended June 30, 2017 (2QFY17) from RM2.38 million, as revenue grew 53% to RM38.42 million from RM25.14 million.
This brings its net profit for the first half of FY17 to RM13.05 million, up 279% y-o-y from RM3.44 million, while revenue climbed 54% to RM67.78 million from RM44.05 million.
In September, the property developer launched a single-storey terrace home project, the second phase of Taman Sri Penawar.