Stock Digest - Hartalega Holdings Bhd - Weak start to 1QFY24

Hartalega Holdings Bhd’s (HARTA) 1QFY24 net loss stood at -RM52.5m vs. a net profit of RM88.3m recorded in the previous corresponding quarter, owing to the lower sales volume, normalising of average selling price (ASP) and one-off provision amounting to RM47.0m for the severance pay due to the decommissioning of Bestari Jaya plant. Revenue for the quarter decreased 48.0% YoY to RM515.7m.

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