Brahims Holdings Bhd (-ve)

TRADING of shares in Brahim’s Holdings Bhd (fundamental: 0/3, valuation: 0/3) triggered our momentum algorithm yesterday for the first time this year.

The counter closed one sen lower at 19 sen yesterday, for a market capitalisation of RM44.89 million. The counter was heavily traded with some 26.34 million shares exchanging hands, about 16 times more than its 200-day average volume of 1.66 million shares.

Brahim’s — which has been loss-making since the quarter ended June 30, 2015 — narrowed its net loss for the second quarter ended June 30, 2019 from RM3.16 million a year ago to RM1.19 million, thanks to contribution from its in-flight catering and related services segment.

Revenue for the quarter was up 15% to RM74.05 million from RM64.42 million a year ago. For the cumulative six months (1HFY19), Brahim’s also narrowed its net loss to RM3.41 million from RM5.31 million a year ago on the back of an 8.4% increase in revenue to RM144.3 million from RM133.09 million in 1HFY18.