The sharemarket has struggled to post gains over the past two months, but Coventry Group is one stock that has bucked the downward trend. Coventry shares have jumped 29 per cent since bottoming at $1.75 in July, to be back around the $2.25 mark. The automotive parts, tools and workshop equipment distributor announced an unaudited net profit of $7 million for the year ended June 30, compared with a $1 million loss for the same time in 2009. Coventry Group said 2010 had been a year of balance-sheet rebuilding and that it would now pursue organic and acquisitive growth opportunities. The company’s recent share price strength has shareholders close to where they started the calendar year and they are in line to receive an 8¢ a share dividend in September. Coventry has a market capitalisation of $90 million and is trading at about 6.3 times forward earnings.