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Superlon slumps 15.58% on lower 1Q earnings

Mimi Sabreena 10:04:00 AM Informasi

KUALA LUMPUR (Sept 27): Superlon Holdings Bhd shares slumped 15.58% in early trade today after its net profit for the first quarter ended July 31 dipped 41.52% to RM3.57 million, from RM6.05 million last year, dragged by lower sales and higher material costs in its manufacturing division.

At 9.20am, Superlon lost 43 sen to RM2.33 with 2.92 million shares traded.

Quarterly revenue, however, rose 2.66% to RM26.33 million from RM25.63 million, supported by higher sales of copper pipes under its trading division.

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