KUALA LUMPUR: Trading of Hovid Bhd was suspended on Monday pending a corporate execise.
The pharmaceutical manufacturer said on Monday the suspension from 9am to 5pm was pending the release of a material announcement.
Hovid's pre-suspension price was 32 sen while its warrants were at 14 sen.
In the financil year ended June 30, 2017, it posted a core net loss of RM300,000 for the financial year ended June 30, 2017.
It missed CIMB Equities Research and Bloomberg consensus expectations of a core net profit due to the revocation of the manufacturing licences of two plants earlier this year.
The fourth quarter ended June (Q4FY17) revenue fell 12.9% on-quarter to RM35.6mil as the revocation led to manufacturing losses and lower sales volume.
CIMB Research maintained its hold call with a higher sum-of-parts based target price of 34 sen as it rolled over to CY19F EPS.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
