Daibochi secures new export contracts for ANZ market
22 February 2016
- New orders to commence from 2Q16 for MNC customers’ new product lines in the F&B and FMCG sectors
- FY2015 net profit rises 12.6% to RM26.7 million on higher export sales and favourable product mix
- Declares fourth interim single tier dividend of 1.3 sen per share in respect of FY2015 payable on 8 April 2016
Melaka, Malaysia, 22 February 2016 – Leading flexible packaging manufacturer Daibochi Plastic and Packaging Industry Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) secured two new contracts to supply flexible packaging to its multinational (MNC) customers in the Australia and New Zealand (ANZ) market.
The Group would deliver flexible packaging for several new product lines of the MNCs in the food and beverage (F&B) and fast moving consumer goods (FMCG) sectors. The new export orders are expected to commence from the second quarter of 2016 and onwards.
Mr. Thomas Lim (林树坤), Managing Director of Daibochi Plastic and Packaging Industry Berhad said:
“We have seen Daibochi’s export sales increase year-on-year to contribute 53% of group sales in the financial year ended 31 December 2015 (FY2015), from 50% in FY2014. These are results of our unwavering focus to grow our regional reach.
The newly-secured contracts would contribute significantly towards expanding our export sales in the current financial year.
More importantly, one of the contracts involves Daibochi’s close cooperation with the customer to meet tight new product launch deadlines in their highly competitive market. In this instance, the Daibochi team overcame many challenges to meet the customer’s crucial lead time, including importing new packaging machinery and developing a new packaging format. Daibochi believes in aligning our objectives with that of our customers to achieve a mutually-beneficial partnership.”
Daibochi posted 12.6% growth in FY2015 net profit to RM26.7 million from RM23.7 million a year ago, attributed to larger exports and favourable foreign exchange rates. The Group also benefitted from lower resin prices, and better product mix from sales of new innovations to the ANZ market.
Read the full press release here.
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