Alcom Shares rebounded to 83 sen on 12th Sept

Shares of Aluminium Company of Malaysia Bhd (Alcom), rebounded to end the morning session on Wednesday unchanged at 83 sen, after falling as much as 32.5% to 56 sen.

At midday, there were 15,000 shares done at price ranging 56 sen to 83 sen.

Alcom's revenue declined 2.3% to RM75.8mil in the first quarter ended June 30, 2012 on the back of an increased in shipment volume by 8%. This was mainly due to the LME for aluminium being 24% froma year ago.

Net profit fell 26.8% to RM1.80mil from RM2.5mil. Its cash reserves were RM43.9mil compared to RM45.0mil from a year ago. Its net asset per share was RM1.42. -- earlier story --

KUALA LUMPUR: Shares of Aluminium Company of Malaysia Bhd (Alcom) fell as much as 32.5% on Wednesday in the absence of any negative news.

At 12.10pm, Alcom was down 27 sen to 56 sen. There were 5,000 shares done.

The FBM KLCI fell 0.91 of a point to 1,613.33. Turnover was 300.32 million shares valued at RM513.97mil. There were 276 gainers, 272 losers and 268 counters unchanged.

Alcom's revenue declined 2.3% to RM75.8mil in the first quarter ended June 30, 2012 on the back of an increased in shipment volume by 8%. This was mainly due to the LME for aluminium being 24% froma year ago.

Net profit fell 26.8% to RM1.80mil from RM2.5mil. Its cash reserves were RM43.9mil compared to RM45.0mil from a year ago. Its net asset per share was RM1.42.