Thursday 28 Mar 2024
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KUALA LUMPUR (April 20): Ajiya Bhd ‘s net profit for the first quarter ended Feb 29, 2020 (1QFY20) almost tripled to RM3.1 million or 1.05 sen per share, from RM1.05 million or 0.35 sen a year earlier, despite recording lower revenue.

In a filing with Bursa Malaysia, the metal roofing and safety glass maker said profit before tax swelled from the corresponding period in the preceding year partly due to higher interest and other income received.

Quarterly revenue, however, fell 4.56% to RM77.5 million from RM81.2 million on lower demand for its products. 

On its prospects, the group said the Covid-19 pandemic and the Movement Control Order (MCO) imposed by the government will have a major impact on the company’s performance outlook for the financial year, which remains uncertain and challenging. 

“However, the group is undertaking various measures in its pursuit to achieve a firmer foundation for sustainable long-term growth and to weather through the challenges ahead.”

Shares in Ajiya closed 2.5 sen or 7.58% higher at 35.5 sen today, for a market capitalisation of RM105.54 million, after some 236,300 shares were traded. 
 

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