Hot stock: Nanofilm jumps 13.1% amid heavy trading on improved Q1 results
It expects profitability to improve in FY2024 from the continuous optimisation of cost structures and lower capital expenditure
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NANOFILM Technologies’ shares rose as much as 13.1 per cent in early morning trade on Tuesday (Apr 23), one day after the company posted a 19 per cent increase in first-quarter revenue.
As at 9.15 am, shares of the nanotechnology solutions provider were trading up S$0.08 at S$0.69 with 5.9 million shares changing hands on a cum dividend basis. It was one of the most heavily traded counters on the Singapore Exchange.
On Monday after trading hours, the mainboard-listed company posted improved financial results for its first quarter ended Mar 31, 2024. Its revenue for the quarter rose to S$39 million from S$33 million in the year-ago period, while gross profit increased to S$12.8 million from S$9.8 million.
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