KUALA LUMPUR (Dec 29): Analabs Resources Bhd’s share price jumped to a record high of RM1.65 on Friday’s morning trade, after the chemical trading outfit reported strong financial results for the second quarter ended Oct 31, 2023 (2QFY2024).

At the time of writing, the counter rose 11 sen or 7.19% to RM1.64, with some 104,400 shares changing hands. At this price, Analabs had a market capitalisation of RM196.88 million.

Year-to-date, the counter has risen over 18%.

Analabs’ net profit for 2QFY2024 more than doubled to RM13.04 million from RM5.51 million a year earlier, driven by an improved manufacturing business and better cost control as well as higher dividends from quoted share investments.

Revenue for the quarter grew 25.5% to RM44.87 million from RM35.75 million due to higher sales of melamine-faced chipboards. It declared an interim dividend of 2.1 sen per share, with the payment date to be announced later.

In line with the improved performance, its net profit for the first half ended Oct 31, 2023 (1HFY2024) also doubled to RM16.95 million from RM6.89 million while revenue climbed 32.4% to RM83.17 million, from RM62.82 million for the same period a year ago.

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