Bright Packaging slips 6% on weak 4Q results
KUALA LUMPUR (Oct 30): Bright Packaging Bhd saw its share price tumble 6.67% during the morning trading session, following news that the company had slipped into the red for its fourth quarter ended Aug 31.
At 11.05 am, the stock was trading 3.5 sen lower at 49 sen, with 1.17 million shares changing hands.
The company saw a loss of RM3.85 million for the quarter, compared with RM2.98 million profit in 4QFY13 - which was attributed to “lower sales orders”, which saw its revenue for the quarter under review fall 62.5% y-o-y to RM7.79 million from RM20.83 million.
For the cumulative 12-month period (FY14), net profit fell 76% y-o-y to RM1.67 million from RM7.03 million, while revenue was also lower at RM34.15 million, down 34.6% from RM52.2 million in FY13.