Business

Published: Wednesday September 12, 2012 MYT 12:26:00 PM
Updated: Wednesday September 12, 2012 MYT 12:49:12 PM

Alcom rebounds after tumbling 32.5% to 56 sen (Update)


KUALA LUMPUR: Shares of Aluminium Company of Malaysia Bhd (Alcom), rebounded to end the morning session on Wednesday unchanged at 83 sen, after falling as much as 32.5% to 56 sen.

At midday, there were 15,000 shares done at price ranging 56 sen to 83 sen.

Alcom's revenue declined 2.3% to RM75.8mil in the first quarter ended June 30, 2012 on the back of an increased in shipment volume by 8%. This was mainly due to the LME for aluminium being 24% froma year ago.

Net profit fell 26.8% to RM1.80mil from RM2.5mil. Its cash reserves were RM43.9mil compared to RM45.0mil from a year ago. Its net asset per share was RM1.42. -- earlier story --

KUALA LUMPUR: Shares of Aluminium Company of Malaysia Bhd (Alcom) fell as much as 32.5% on Wednesday in the absence of any negative news.

At 12.10pm, Alcom was down 27 sen to 56 sen. There were 5,000 shares done.

The FBM KLCI fell 0.91 of a point to 1,613.33. Turnover was 300.32 million shares valued at RM513.97mil. There were 276 gainers, 272 losers and 268 counters unchanged.

Alcom's revenue declined 2.3% to RM75.8mil in the first quarter ended June 30, 2012 on the back of an increased in shipment volume by 8%. This was mainly due to the LME for aluminium being 24% froma year ago.

Net profit fell 26.8% to RM1.80mil from RM2.5mil. Its cash reserves were RM43.9mil compared to RM45.0mil from a year ago. Its net asset per share was RM1.42.

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