Just over a year ago, I did a deep dive into InNature Berhad (KLSE: INNATURE) (“InNature”). Since listing on in February 2020, the group saw its share price halved to RM0.32 within the space of two months.
Fast forward to today, the stock has recovered back to its IPO price of RM0.64, marking a decent 100% gain for investors brave enough to scoop up shares in April 2020.
InNature has also reported its latest financial results for the first quarter ended 31 March 2021. We will now delve into the group’s latest earnings to check on its recent business performance.
1. Malaysia business update
In Malaysia, Covid-19 headwinds precipitated the Movement Control Order (MCO) 2.0 in January 2021, but InNature managed to continue operations in most stores throughout 1Q2021.
The lockdown resulted in much-reduced footfall throughout all malls which the group mitigated by its reach through e-commerce and Click/ Call and Collect (C&C) channels....