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Vtec’s share price rise due to strong financial results #Notion

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Notion Vtec Bhd has seen a significant increase in its share price, with no specific reason identified other than the company’s strong financial performance and a turnaround in the hard disk drive (HDD) and electronics manufacturing services (EMS) sectors. In response to a query from Bursa Malaysia Securities, the company stated that there were no undisclosed corporate developments that could explain the trading activity. Notion Vtec reported positive returns in the first and second quarters of financial year 2024, attributing this to consistent improvement and effective strategic initiatives. The company also mentioned potential benefits from the trade tension between China and the West, with the possibility of major customers reallocating more orders in the coming quarters. This increase in sales was highlighted in the unaudited quarterly financial report for the second quarter of FY2024, suggesting that the second half of the financial year may outpace the first half. Notion Vtec’s share price closed 8% higher at RM1.96 a share, resulting in a market capitalization of RM1 billion. Investors, both retail and institutional, have responded positively to the company’s performance, reflecting confidence in its ongoing business prospects.

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Source link: https://www.nst.com.my/amp/business/corporate/2024/06/1065263/notion-vtec-says-no-reason-run-share-price-save-strong-financial

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