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.