KUALA LUMPUR, Aug 1 — Perusahaan Sadur Timah Malaysia (Perstima) emerged the top gainer on Bursa Malaysia this morning on the back of news that its net profit for the first quarter ended March 31, 2018 soared 328 per cent to RM12.14 million from RM2.84 million from the corresponding period of the previous year.
In a filing to Bursa Malaysia yesterday, the tinplate exporter said revenue improved 0.6 per cent to RM238.83 million from RM237.49 million, following higher selling prices and despite lower sales volume.
On the current year prospects, the group expects the operating environment to remain challenging and competitive due to the higher presence of imports, coupled with the volatility of the ringgit against the US dollar.
However, the group would continue with its production efficiency, cost saving measures and marketing efforts to stay profitable.
At 10.23am, Perstima’s share was 31 sen higher at RM5.15 with 81,900 shares changing hands. — Bernama
