Harbour-Link share price jumps to record high on full-year profit spike

Harbour-Link share price jumps to record high on full-year profit spike

By In News On September 30, 2021


KUALA LUMPUR (Sept 30): Harbour-Link Group Bhd’s share price jumped over 8% to its record high at RM1.42 on Thursday (Sept 30) after the diversified group’s volume surged to an all-time high on Wednesday (Sept 29) following news a day earlier (Sept 28) that the company’s full-year net profit spiked to RM61.48 million in financial year ended June 30, 2021 (FY21) from RM25.92 million a year earlier.

At Bursa Malaysia’s 12:30pm break on Thursday, Harbour-Link’s share price pared gains at RM1.36 after rising as much as 11 sen or 8.4% to RM1.42 for a market value of about RM566.21 million. Harbour-Link has 398.74 million issued shares.

Harbour-Link, whose businesses include shipping services, construction and property development, saw 28.35 million shares traded.

On Wednesday, the stock’s volume surged to 46.2 million shares from 653,600 on Tuesday (Sept 28).

So far on Thursday, Harbour-Link’s shares were traded between RM1.29 and RM1.42.

Year to date, Harbour-Link’s share price had risen to current levels from its closing price of 81 sen on Jan 4, 2021.

On Tuesday, Harbour-Link said in a Bursa filing that FY21 full-year revenue rose to RM626.19 million from RM617.25 million a year earlier.

For 4QFY21, Harbour-Link said net profit jumped to RM25.99 million from RM2.8 million a year earlier as revenue grew to RM188.67 million from RM129.32 million.

Edited by Chong Jin Hun

News Source: https://www.theedgemarkets.com/article/harbourlink-share-price-jumps-record-high-fullyear-profit-spike


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