Quick take: Alcom jumps 38% after strong earnings report

KUALA LUMPUR: Shares in Alcom Group Bhd surged over 38% in early trade following the release of its strong fourth quarter earnings.

The aluminium manufacturer and developer jumped 38.39%, or 21.5 sen to 77.5 sen, its highest since October 2018 with 2.5 million shares traded.

Alcom posted a net profit of RM10.07mil in the fourth quarter ended Dec 31, against a net loss of RM502,000 in the same period last year.

Its revenue rose 9.3% to RM109.63mil from RM100.27mil in the same corresponding quarter a year ago.

For the full financial year ended Dec 31, Alcom posted a net profit of RM1.31mil against a net loss of RM201,000. Revenue for the period stood at RM316.4mil from RM372.6mil previously.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3



Next In Business News

Inta Bina bags RM106mil contract from Mitraland�
DBS, StanChart weigh bids as Citi retreats from Asia consumer business - sources
Kossan registers best-ever quarterly earnings�
Ajiya sees tough quarters ahead amid shortage of raw materials�
Oil hits US$68 on Libya force majeure, although pandemic surge weighs
FBM KLCI rebounds, gains 7.28 points
DBS, StanChart among potential bidders for Citi's Asia consumer business
Indonesia's central bank keeps interest rates steady
Petronas Gas allocates capex up to RM1.3bil in FY21
UK unemployment falls again under government's jobs shield

Stories You'll Enjoy