Daibochi 2Q15 net profit leaps 15.7% to RM7.2 million [Press Release]
12 August 2015
- Driven by improved margin from higher export sales and favourable product mix; also benefitting from weak MYR
- On track to commercialize second new product innovation for F&B sector in 3Q15
- Declares 2nd interim single tier dividend of 4.0 sen per share in respect of FY2015 payable on 29 September 2015
Melaka, Malaysia, 12 August 2015 – Leading flexible packaging manufacturer Daibochi Plastic and Packaging Industry Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) recorded 15.7% higher net profit of RM7.2 million for the second quarter ended 30 June 2015 (2Q15) from RM6.2 million a year ago, benefitting from higher export sales and favourable product mix.
2Q15 revenue rose 3.1% to RM89.7 million, from RM87.0 million a year ago. Exports contributed 52% of 2Q15 revenue. Daibochi also benefitted from the weaker Malaysian Ringgit, which further enhanced 2Q15 performance on the back of higher export sales.
Mr. Thomas Lim (林树坤), Managing Director of Daibochi Plastic and Packaging Industry Berhad said:
“The weaker Malaysian Ringgit enhances the competitiveness of export-oriented manufacturers like Daibochi. This is indicated by the steadily rising orders from our clients across South East Asia, Australia, and New Zealand. This would also complement our long term plans to enlarge export sales, at the same time taking on a greater role in supporting our clients’ aggressive growth plans in the region.
Additionally, we are on track to commercialise another new product for an MNC’s food and beverage (F&B) products in Asia Pacific in the third quarter of 2015, which would further boost our export revenue. In light of this positive development, we are confident of achieving better financial performance in FY2015.”
Read the full press release here.
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