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Judul : Karex hits two-year low on opaque near-term outlook
link : Karex hits two-year low on opaque near-term outlook
Karex hits two-year low on opaque near-term outlook
KUALA LUMPUR (May 31): Karex Bhd's share price hit a low of RM1.83 this morning at 10.08am — also the lowest since its closing of RM2.25 on May 24 this year — after a research house highlighted an opaque outlook for the condom manufacturer as well as contraction in third quarter earnings.
Prior to this, the stock had been at its lowest two years ago, when it closed at RM1.83 on March 19, 2015.
Karex's net profit in the third quarter ended March 31, 2017 (3QFY17) contracted 28.3% to RM6.9 million from RM9.63 million a year earlier, on higher distribution expenses.
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