Harbour-Link emerges as top gainer on Bursa after stellar 4Q results

TheEdge Wed, Sep 29, 2021 03:27pm - 2 years View Original


KUALA LUMPUR (Sept 29): Harbour-Link Group Bhd emerged as the top gainer on the local bourse on Wednesday after the group’s net profit in the fourth quarter ended June 30, 2021 (4QFY21) jumped ninefold to RM25.99 million from RM2.8 million reported in the previous year. 

At 2.50pm, the stock traded 27 sen or 26.73% higher to RM1.28, giving it a market value of RM516.52 million. 

It saw 32.14 million shares changing hands, 16 times more than its 200-day trading average of 2.08 million shares.

Year to date, the stock has risen by 54.32% from 81 sen in January.

On Tuesday, in a Bursa Malaysia filing, for the financial year-end June 30, 2021 (FY21) the group also announced its annual net profit rose 137.19% to RM61.48 million against RM25.92 million while revenue increased marginally by 1.45% to RM626.19 from RM617.25 million previously. 

On a quarterly basis, the group’s net profit rose 55% from RM16.77 million in the immediate preceding quarter (3QFY21) while revenue increased 23% from RM152.78 million in 3QFY21, underpinned by an increase in revenue from its integrated logistic segment and shipping and marine segment. 

According to the group’s website, Harbour-Link is engaged in the provision of management services. 

The business activities of the firm are shipping and marine services, logistics services and equipment rental, engineering works, and property development.

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