Eurospan jumps 16% to all-time high

© Provided by The Edge

KUALA LUMPUR (Sept 21): Shares in Eurospan Holdings Bhd surged 16.05% or 26 sen to an all-time high of RM1.62 this morning, extending yesterday’s gains for the small-cap wood furniture maker.

At the time of writing, the counter was traded at RM1.50, still up 14 sen or 10.29%. Trading volume surged 15 times its two-month average to 2.62 million shares and took a breather after the noon market break. Other furniture maker shares were little moved.

At RM1.50, Eurospan had a market capitalisation of RM66.63 million.

Eurospan has an issued share capital of RM52.8 million comprising 44.42 million shares. Net asset value per share stood at 98.57 sen as at May 31, 2021.

Its largest shareholder is chairman and managing director Guan Kok Beng, who has been raising his stake in the past year to 23.51 million shares or 52.92%, of which 41.67% is held via TBHL Holdings Sdn Bhd.

The company, which turned to a profit for the last financial year after three years of losses, saw its share price climb by 130% in the last five months since late April.

For the financial year ended May 31, 2021 (FY21), Eurospan booked a net profit of RM3.46 million or 7.78 sen per share, against a net loss of RM2.49 million or 5.61 sen per share, on the back of improved margins and a temporary jump in demand for furniture products in key markets.

Full-year revenue, meanwhile, rose 11.76% to RM52.58 million from RM47.05 million.

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