Proton Shares Plunged Low After Announced Loss of RM4.3mil
September 1st, 2005 at 07:18pm frances Entry Filed under: Auto News, Malaysia
Proton share prices had plunged lower in the opening of trading market, down from 8.85 to 8.25, a total of 6.78% in today morning trade session. It was said to be probably cause of the announcement of red balance sheet on the day before yesterday.
On late tuesday, they had announced their first quarter results of a loss of RM4.3 million (pre-tax) from March to June 30. Compare to preceding quarter, Proton had recorded a pre-tax profit of RM165.5mil. They blamed its current poor performance on lower sales, rising component costs and higher allowances for doubtful debts.
Share close at 8.45 at the end of day.
Category : Auto News, Malaysia
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