Bursa Malaysia Stock Watch
Hai-O falls on weak 1Q earnings
kltrader
Publish date: Thu, 30 Sep 2010, 10:10 AM
kltrader
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KUALA LUMPUR: Shares of HAI-O ENTERPRISE BHD [] fell in morning trade on Thursday, Sept 30 after it posted a set of weak earnings for the first quarter ended July 31, 2010.
At 9.29am, it was down 25 sen to RM3.01 with 2.69 million shares done.
The FBM KLCI was up 0.22 of a point to 1,462. Turnover was 132.46 million shares valued at RM117.22 million. Gainers led advancers 152 to 106 while 164 stocks were unchanged.
Hai-O's net profit fell 57% to RM7.84 million in the 1Q from RM18.52 million a year ago as the multi-level marketing (MLM) division recorded lower revenue.
Pre-tax profit was RM10.79 million, down 59% from RM26.28 million a year ago while revenue fell 63% to RM54.75 million from RM148.57 million. Earnings per share were 3.91 sen versus 22.17 sen.
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