Hot Stock D’nonce falls to one-year low after reporting losses

by **Cals** Fri 30 Oct 2015, 15:28

Hot Stock

[size=28]D’nonce falls to one-year low after reporting losses

By Gho Chee Yuan / theedgemarkets.com | October 30, 2015 : 10:58 AM MYT

KUALA LUMPUR (Oct 30): D'nonce Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 0.20) fell to its one-year low of 20.5 sen in early trade after the diversified entity reported a net loss in its fourth financial quarter.

D'nonce announced yesterday that it sunk into the red with a net loss of RM1.59 million in the fourth quarter ended Aug 31, 2015 (4QFY15), compared to a net profit of RM4.27 million a year earlier, on lower logistics and contract manufacturing revenue.

It added that higher finance cost and taxation also led to the 4QFY15's net loss.

Today, the stock fell as much as one sen or 4.65% to 20.5 sen, its lowest point since Oct 24 last year. The counter pared part of its losses to trade at 21 sen, still down 0.5 sen or 2.33% as at 10.36am.

Some 1.76 million shares traded between 20.5 sen and 22 sen. It has a market capitalisation of RM38.79 million.

According to the group, its revenue for the quarter fell to RM39.78 million, from RM55.14 million in 4QFY14.

Full-year net profit shrank to RM389,000, from RM2.31 million a year earlier, on higher revenue of RM223.77 million versus RM178.76 million.

D'nonce said it was mindful of the challenging business landscape, which justified the need to explore the feasibility of other businesses.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.) [/size]