Eversendai down 7% on possible profit-taking

KUALA LUMPUR (July 4): Eversendai Corp Bhd fell as much as 6.98% at mid-morning today, on possible profit taking on the counter.

At 9.58am, the stock was down 9 sen or 6.98% to RM1.20, with 4.62 million shares traded for a market capitalisation of RM959.64 million. Eversendai was the sixth-largest loser across Bursa Malaysia.

Over the past 12 months, the stock has surged 160.87% from 46 sen.

Analysts contacted by theedgemarkets.com said they were not aware of the reason for the drop in its share price.

For the first quarter ended March 31, 2017 (1QFY17), Eversendai reported a net profit of RM15.26 million, compared with its net loss of RM50.42 million in 1QFY16. However, revenue declined 10% to RM395.97 million, from RM440.73 million. — theedgemarkets.com

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