Southern Alliance Mining sees earnings plunge 30% in maiden results announcement since listing
Amala Balakrishner • • 3 min read
SAM has proposed a final dividend of 0.6 cents.
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Earnings of iron-ore producer Southern Alliance Mining (SAM) plummeted 30% to RM62.1 million ($20.5 million) in FY2020 ended July 31, from the RM88.2 million posted a year ago. The dip follows a surge in tax expenses to RM24.9 million.
The latest results is a first for the company which went public at 26 cents a share on June 26.
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