The counter opened at 16 sen, down as much as 11.11% or two sen from its previous close. Some 44.37 million shares were transacted so far in the day, lower than its 200-day average volume of 68.09 million. The group cited that the lower net profit and revenue were largely due to slow replenishment of orders caused by the Covid-19 pandemic worldwide. For the cumulative six months ended June 30, 2021, net profit dropped 72.84% to RM8.55 million from RM31.48 million a year earlier. On its prospects, KNM anticipates that the outlook for FY21 remains challenging due to continuous uncertainties in the global economic outlook arising from the impact of the Covid-19 pandemic.

Source: The Edge Markets November 19, 2021 14:33 UTC