Published: Thursday August 9, 2012 MYT 11:15:00 AM
MSC falls after posting Q2 losses
KUALA LUMPUR: Shares of Malaysia Smelting Corp Bhd (MSC) fell on Thursday after it posted losses in the second quarter ended June 30, 2012.
At 10.59am, it was down 23 sen to RM3.53. There were 171,900 shares done at prices ranging from RM3.53 to RM3.68.
The FBM KLCI was up 1.07 points to 1,639.99. Turnover was 284.41 million shares valued at RM206.95mil. There were 225 gainers, 240 losers and 260 counters unchanged.
MSC incurred a pre-tax loss of RM77.05mil for the second quarter ended June 30 compared with a pre-tax profit of RM53.35mil in the same quarter last year.
Revenue fell 36.2% to RM543.78mil from RM852.63mil due to lower tin prices and volume. The average market tin price for Q2 fell 28.7% to US$20,600 per tonne from US$28,900 per tonne a year ago.