Can-One’s share price boost
Can-One Berhad has continued to see its share price jump as investors back the company in anticipation of growth prospects in 2021.
The company, through its subsidiaries, is involved manufacturing and trading of metal and lithographed tin cans and plastic jerry cans, and manufacturing of dairy and non-dairy products.
It operates in four segments: general cans, food products, international trading, and property and investment holding.
Its share price has surged 37% from the RM2.50 level in November to the RM3.44 price on Friday.
The Malaysian Reserve report that investors expect the largest can maker in the country will benefit from growth in the beverage can market.
In the last year alone, its share price has rocketed up by 72%, according to Simply Wall St, and grew its earnings per share by 3.9%.
Can-One does expect challenges related to the ongoing pandemic to continue into 2021, though.
“Business operations and supply chain globally continue to be disrupted which caused logistical issues and rising raw material prices.
“Management will continue to be vigilant to ensure strict compliance with standard operating procedures issued by the relevant countries’ government to minimise disruption to our business operations,” it said in its financial report dated Feb 25, 2021.
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