Sapura Industrial shares tumble after posting net loss in Q2

PETALING JAYA: Sapura Industrial Bhd's share price tumbled 3.72% this morning after it registered a net loss of RM1.03 million in the second quarter (Q2) ended July 31, 2017, against a net profit of RM873,000 in the same period last year.
As at 11.03am today, the group's share price stood at 91 sen, with 10,000 million shares changing hands. It has a market capitalisation of RM68.4 million.
Sapura Industrial said the net loss was due to lower revenue and higher operating costs, mainly from imported materials, as well as labour and production related expenses in preparation for new parts to be launched in the third quarter.