Three-A profits drop 42% dragging share prices down
KUALA LUMPUR: Three-A Resources has seen its shares dive more than 4% this morning after it revealed a 42% drop in its quarterly profits.
The ingredients producer is among the top losers on Bursa Malaysia, falling 4.21%, or four sen to 91 sen.
The group’s net profit fell 42% to RM5.29mil in the second quarter ended June 30, 2018 (2QFY18), from RM9.17mil a year ago, as its product margins were impacted by a surge in raw material prices.
Its quarterly revenue slid a marginal 1% to RM101.36mil from RM102.34mil in the year-ago quarter as a result of lower sales volume.
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