Hartalega continues to appear aggressive with spikes

 Shares of Hartalega Holdings Bhd gained an increase in total trading of around 20 million units in the Bursa Malaysia trading session last night.

This is because the stock price of the rubber glove issuer reduces losses when the reaction is clear to the company's announcement of profits for the first quarter.

Hartalega announced that its net profit increased to RM2.26 billion compared to RM219.72 million last year.

Meanwhile, the rate of increase also showed a surge of RM3.9 billion from RM920.09 million.

At 3.59 pm last night, Hartalega's shares recorded 19.58 million units of stock trading compared to 3.25 million units on Monday.

Meanwhile, the share price of the group fell 22 cents or 3.31% to RM6.81 after hitting a low of around RM6.64.

According to the company, net profit also reached a level higher than RM1.12 billion while revenue increased to RM2.31 billion in terms of annual rate.

Meanwhile, Hartalega issued a reserve for dividends of 19.75 cents a share from 2.1 cents in the same period last year.

Overall, net gains for the first quarter ending 30 Jun 2021 and dividends were driven by increased demand for gloves as personal protective equipment (PPE) during the Covid-19 pandemic.

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