Ideal Jacobs (M) Corp Bhd

Ideal Jacobs is involved in making nameplates, custom labels, membrane switches, fabric-over-foam gaskets, die-cut components, injection-moulded panels and machined parts.

In the third quarter ended Sept 30, 2016, it reported a small profit of RM965,000 versus a net loss of RM397,000, mainly due to higher sales and reversal of corporate exercise expenses over accrued of RM510,000. Revenue for the quarter gained 13.7% to RM10.37 million from RM9.12 million a year ago, as revenue across all business segments improved.

For the cumulative nine months, it posted a net profit of RM2.84 million from a net loss of RM1.32 million, while revenue improved 15.5% to RM29.73 million versus RM25.74 million previously.

Prospects : The sales from all segments had improved in period ended 30 September 2016 as compared to the previous year corresponding period. With the existing well-diversified customer base and vast variety of products and services, the sustainability of the Group is ensured. Barring any unforeseen circumstances, the Board is confident that the Group is capable of delivering a satisfactory financial result for the financial year ending 31 December 2016. 

IJACOBS (0162)

IJACOBS has been trading above its upward sloping 20-Day Moving Average which is a good sign. In addition, the price just broke the resistance of 0.24 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.

IJACOBS(0162) will be another VIS(0120) which share price sharp rise from 25sen to 44sen. IJACOBS financial results will keep perform well in next few quarter. IJACOBS share price will outperform market. Those miss the VIS(0120), don't miss IJACOBS. IJACOBS target price is 50sen.