- 4Q17 net profit rises 33.7% to RM7.9 million on contribution from Myanmar plant and higher profitability at Malaysia plant
- Myanmar plant starts first exports in December 2017; targeting new MNC businesses in Southeast Asia
- Declares fourth interim single tier dividend of 1.3 sen per share in respect of FY2017; ex-date on 27 February 2018
Melaka, Malaysia, 5 February 2018 – Leading flexible packaging manufacturer Daibochi Plastic and Packaging Industry Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) delivered its best-ever revenue of RM388.6 million in the financial year ended 31 December 2017 (FY2017) and 5.9% higher net profit of RM26.0 million, boosted mainly by new sales from its Myanmar operations.
For the fourth quarter ended 31 December 2017 (4Q17), group revenue rose 16.9% to RM105.7 million. Notably, 4Q17 net profit surged at a higher pace of 33.7% to RM7.9 million on new contribution from the Myanmar plant as well as improved operating efficiency in the Malaysia plant.
Mr. Thomas Lim (林树坤), Managing Director of Daibochi Plastic and Packaging Industry Berhad said:
“We reported accelerated growth from July 2017 onwards, with the second half of FY2017 contributing nearly 60% of total group net profit.
On top of enhanced operations at the Malaysia plant, the Myanmar plant successfully achieved its first export sales in December 2017 after securing approval from the Myanmar Investment Commission. This saw us deliver a total of seven containers of flexible packaging to eight customers in Malaysia.
The next step in Daibochi Myanmar’s growth plans is to enter qualification with multinational corporations (MNC), as we target to serve their expanding packaging requirements in the high-growth Southeast Asia region. Overall, we believe that we are taking the right steps to position our Myanmar operations to achieve annual revenue contribution of RM100 million in FY2019.”
Read the full press release here.
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