Malaysian Pacific Industries' shares fall on news of lower Q1 earnings
09 Nov 2017 / 12:05 H.
PETALING JAYA: Malaysian Pacific Industries Bhd saw its share price fall 2.68% this morning after announcing a drop in net profit for the first quarter ended Sept 30, 2017.
At 11.09am, its share price fell 2.68% or 38 sen to RM13.82 with a total of 99,500 shares traded.
Yesterday, the group told Bursa Malaysia that its net profit for the quarter fell 8.76% to RM36.24 million from RM39.72 million a year ago due to higher material cost arising from sales mix and higher commodity price.
Revenue for the quarter rose 8.27% to RM387.63 million from RM358.01 million a year ago.