NanoFilm shares regain some ground after share buybacks, founder explains earnings miss

NanoFilm shares had plunged after the resignation of its chief operating officer and a disappointing earnings report.
NanoFilm shares had plunged after the resignation of its chief operating officer and a disappointing earnings report.PHOTO: BT FILE

SINGAPORE - NanoFilm Technologies shares closed higher on Wednesday (Aug 18) after founder and executive chairman Shi Xu told a briefing about the company's recent management changes and potential for growth.

The stock closed at $3.96, up 14 cents or 3.66 per cent, after Dr Shi laid out the reasons behind a 2.3 per cent year-on-year drop in first-half net profit to $18.1 million despite revenue increasing 24.2 per cent to $96.6 million.

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