Friday 29 Mar 2024
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KUALA LUMPUR (May 23): Long-haul low cost airline AirAsia X Bhd's (AAX) shares, which are actively traded today ahead of the release of the group's financial results for its first quarter ended Mar 31, 2017 (1QFY17), peaked at a two-year high at the time of writing.

As at 4:12pm, the stock was the second most actively traded counter, with 68.98 million shares transacted, when it reached 53.5 sen, up 0.5 sen or 0.94% — the highest seen since Jan 2015.

At the present price, it has a market capitalisation of RM2.18 billion. AAX's share price has jumped 33.75% since Apr 20 this year, when the counter was trading at 40 sen. Year to date, the stock has appreciated 48.61% from 36 sen per share on Jan 3 this year.

AAX, which returned to the black in FY16, is scheduled to release its 1QFY17 fiscal results by this evening.

In a note to investors yesterday, Affin Hwang Capital Research analyst Aaron Kee said AAX is expected to report significant improvements to its core net profit, underpinned by strong operational performance.

"But bear in mind, AAX could report lower year-on-year net profit figure due to the absence of large foreign exchange gain seen in 1QFY17," he said.

 

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