Daibochi achieves highest-ever RM47.7 million net profit in FY2020 [PRESS RELEASE]
- Ongoing RM100 million investments for new machinery to increase production capacity by 60% in two years
- Domestic and regional sales of flexible plastic packaging (FPP) to Food and Beverage (F&B) and Fast Moving Consumer Goods (FMCG) sectors remain resilient despite COVID-19 uncertainties
- Proposes 3.0 sen final dividend in respect of FY2020
Melaka, Malaysia, 18 September 2020 – Leading flexible packaging manufacturer Daibochi Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) registered its highest-ever net profit of RM47.7 million on RM619.3 million revenue in the financial year ended 31 July 2020 (FY2020), as regional and domestic demand for FPP from the F&B and FMCG sectors remained resilient.
For the fourth quarter ended 31 July 2020 (4Q FY2020), Daibochi recorded net profit of RM11.2 million on RM155.8 million revenue. In comparison to the preceding quarter ended 30 April 2020 (3Q FY2020), 4Q FY2020 top and bottom line grew 2.5% and 3.6% respectively quarter-on-quarter.
There is no comparison to the previous corresponding financial quarter and financial year, due to the change in financial year end from 31 December to 31 July.
Daibochi’s Executive Director Low Jin Wei said that FPP demand from prominent F&B and FMCG brands of multinational companies and domestic players in Southeast Asia and Oceania remained stable even amidst market uncertainties posed by the COVID-19 pandemic.
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