SKB Shutters hits limit up at record high ahead of 2Q results announcement

SKB Shutters hits limit up at record high ahead of 2Q results announcement
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KUALA LUMPUR (Feb 5): SKB Shutters Corp Bhd's share price hit limit up at its record high today after rising 30 sen or 38.96% to RM1.07 ahead of the roller shutter and steel door manufacturer's second-quarter (2Q) financial results announcement this month.

On Bursa Malaysia today, SKB saw 644,500 shares traded at 11.12am. At RM1.07, SKB has a market value of about RM42.8 million based on the company's number of issued shares of 40 million.

For the first quarter ended Sept 30, 2020 (1QFY21), SKB's net profit from continuing operations rose to RM1.27 million from RM658,000 a year earlier, according to the company's Bursa Malaysia filing.  

SKB said 1QFY21 revenue from continuing operations however fell to RM17.43 million from RM18.88 million.

SKB said its latest reported net assets per share stood at RM2.07.

According to SKB's website, the company, since its establishment in 1957, has grown from a small family business to a manufacturer and supplier of roller shutters and steel doors in Malaysia.

The company claimed that its products have been exported all over the world since 1997.

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