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Market Mover | TOPGLOV Shares Fall Over 5%, Released Its Quarterly Financial Results

moomoo News ·  Jun 19 03:31  · Movers

June 19, 2024 - $TOPGLOV (7113.MY)$ shares fell 5.13% to RM 1.11 in trading on Wednesday. The company released its 24Q3 financial results, reporting a net profit of RM 50.7 million for the third quarter ended May 31, 2024. This represents a reversal from a loss of RM 130.6 million in the same period the year before. It is noteworthy that the stock price once rose by more than 6% during the trading session.

2024 Third Quarter  Financial Highlights

  • The Group reported a significant increase in Revenue for the third quarter ended 31 May 2024, with a 20% year-on-year growth to RM 637 Million, compared to the same period in the previous year.

  • The Group turned around its operating loss, reducing it by 72% from RM -121 Million in the corresponding quarter of the previous year to RM -34  Million.

  • Net Profit after tax for the quarter saw a substantial improvement, swinging from a loss of RM -120 Million in the third quarter of 2023 to a profit of RM 61 Million in 2024.

  • Earnings per share for the owners of the parent company showed a marked increase, going from a loss of  -1.63 sen in the corresponding quarter of the previous year to a profit of  0.63 sen.

Source: TopGlove 3QFY2024 Financial Results

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