Daibochi’s revenue rises 22.5% to record high of RM106.4 million in 2Q18 [PRESS RELEASE]
- Expects sales of Myanmar plant to increase more than 30% on commencement of flexible packaging delivery to food and beverage (F&B) customer
- 2Q18 adjusted PBT rises 25.1%; net profit dips 7.8% to RM4.7 million on foreign currency exchange loss
- Declares second interim single tier dividend of 0.8 sen per share in respect of FY2018; ex-date on 5 September 2018
Melaka, Malaysia, 16 August 2018 – Leading flexible packaging manufacturer Daibochi Berhad, formerly known as Daibochi Plastic And Packaging Industry Bhd (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) saw revenue rise 22.5% to RM106.4 million in the second quarter ended 30 June 2018 (2Q18) from RM86.8 million in the previous year, setting a record high in quarterly top line performance.
The commendable growth came as Daibochi’s Malaysia plant reported increased shipments to MNC customers in the domestic market and export markets. This was further enhanced by new contributions from the Myanmar plant which commenced operations on 1 July 2017.
Mr. Thomas Lim (林树坤), Managing Director of Daibochi Berhad said:
“Daibochi intends to continue stamping a firmer mark in export markets, as well as support the expanding requirements of MNCs.”
“Additionally, we anticipate our Myanmar plant to achieve stronger performance in the fourth quarter of 2018 onwards, with quarterly revenue expected to rise more than 30% to exceed RM10 million, driven by order fulfilment and potential new contracts. The plant also commissioned a new extrusion machine, allowing us to commence delivery of major orders to a F&B customer, as well as expand our product range.”
“Moving forward, we would also work closely with our MNC customers to develop sustainable forms of packaging that support their sustainability commitments in the global supply chain. Our extensive experience in product development in collaboration with MNCs positions us well to excel in this area.”
Read the full press release here.
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