This article first appeared in The Edge Financial Daily, on May 30, 2017.
JF Technology Bhd (-ve)
SHARES in JF Technology Bhd (fundamental:2.5/3, valuation: 0.20/3) triggered our momentum algorithm yesterday for the seventh time this year.
Shares in JF Technology closed six sen or 4.38% higher at RM1.43, with some 4.33 million shares traded, compared with its 200-day average volume of 258,376 shares.
The electronics products manufacturer’s third quarter ended March 31, 2017 saw it returning to the black with a net profit of RM1.56 million compared with a net loss of RM761,000 in the same period last year, thanks to higher export sales, a stronger greenback against the ringgit, and lower legal fees paid for its ongoing litigation with Johnstech International Corp in the US.
Quarterly revenue grew 49.6% to RM6.1 million from RM4.1 million a year ago for the same reasons. The stock is currently trading at 6.43 times its book value and has a trailing 12-month price-earnings ratio of 89.53 times.