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
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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