KUALA LUMPUR (March 25): Flat steel product manufacturer Astino Bhd saw its share price leap to a two-year high, after it announced that its profit grew nearly four-fold year-on-year for the second financial quarter ended Jan 31, 2024 (2QFY2024). 

Shares of Astino climbed as high as 64 sen during Monday’s trade, last breached two years ago on March 4, 2022. It closed slightly lower at 60.5 sen, still up three sen or 5.22% from the previous close. 

The counter also saw its trading volume jump to a two-year high of 5.23 million, more than ten times its 20-day average trading volume of 512,300 shares. 

At 60.5 sen per share, the counter is valued at RM294 million. It has gained 6.5 sen or 12.04% since the start of the year. 

According to a bourse filing last Friday (March 22), Astino posted a net profit of RM11.78 million or 2.41 sen per share for 2QFY2024, increasing nearly four-fold from RM2.95 million or 0.6 sen per share a year earlier, thanks to higher sales and profit margin. 

Meanwhile, its quarterly revenue grew 18% to RM169.22 million, from RM143.29 million.

For the six-month financial period ended Jan 31, 2024 (1HFY2024), Astino’s net profit doubled to RM20.35 million from RM10.27 million a year ago, while its cumulative revenue grew 7.52% to RM334.86 million from RM311.45 million. 

Moving forward, the company said it remains cautiously optimistic about achieving a more sustainable performance, as market demand for its product remains firm, though it flagged escalating input costs and the weakening ringgit against the greenback.

Astino to buy land for RM60mil

PETALING JAYA: Astino Bhd’s wholly- owned subsidiary, Astino (M) Colour Steel Sheets Sdn Bhd, has agreed to acquire a plot of freehold land in Kapar, Selangor, for RM60.16mil from Bukit Saujana Jaya Sdn Bhd.

In filing with Bursa Malaysia, Astino said the land size was 884,703.6 sq ft and has been charged to CIMB Bank Bhd as security for a loan granted to the seller.

The purchase will be funded with money from internally generated funds (15%) and bank borrowings (85%) and it will also support Astino’s expansion.

券商 ：APEX证券研究

　投资建议：技术买进

　闭市价 ：61.50仙（截至5月9日）

　支撑水平：60仙

　阻力水平：65.50仙、67.50仙

　南亚（ASTINO，7162，主要板工业）逐步重拾上涨动力，且技术指标积极，预计接下来会迎来技术反弹。

　该股股价自今年3月初开始逐步攀升，于4月8日触及64.50仙高点后出现回调，近期再形成上升趋势，并于本周三（8日）收在62.50仙。

　技术图显示，股价从200天短期移动平均线（SMA）恢复后，形成大幅反弹，随后跌破20天指数移动平均线（EMA）。近期股价迅速回升，重返20天指数移动平均线之上。

　一旦购兴回笼，该股料可突破65.50仙（4.8%上行空间）的第一道阻力水平，随后再上探至67.50仙（8%上行空间）的第二道阻力水平。不过，如果该股无法守住60仙的支撑水平，显示股价走势疲弱，建议部署止损。

　基本面方面，该公司2024财年次季净利翻3倍至1178万令吉，上半年累计净利亦翻倍至2035万令吉。