Wintoni rises 12% on return to profitability

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KUALA LUMPUR (Sept 04): Wintoni Group Bhd rose 11.8% in heavy trade after the industrial automation specialist posted profit in the second quarter ended June 30, 2014 (2Q FY14). This compares to a net loss a year earlier.

At 12.30pm, ACE-Market listed Wintoni gained one sen to settle at 9.5 sen. Some 39 million shares were traded, making the stock the fifth active entity on Bursa Malaysia.

Wintoni had traded between 8.5 sen and 9.5sen so far today.

Kenaga Investment Bank Bhd wrote in a note today the immediate support and resistance for Wintoni's share price were seen at eight and nine sen respectively.

Last Friday (August 29), Wintoni said it posted a net profit of RM1.58 million in 2Q FY14 compared to a net loss of RM851,000 a year earlier.

For the six months period, Wintoni reported a net profit of RM1.15 million compared to a net loss of RM1.61 million a year earlier.

Wintoni has completed the exercise on reducing its share par value from 10 sen each to five sen apiece. The exercise will enable the company to rationalise its balance sheet by eliminating accumulated losses.