Daibochi 1Q21 net profit grows 16.5% to RM12.8 million [PRESS RELEASE]
- On track to complete RM100 million expansion plans to boost annual production capacity by 60%
- Increased commercialisation of sustainable flexible packaging solutions; supporting multinational customers’ (MNCs) sustainability goals
- Shareholders approve 3.0 sen final dividend in respect of FY2020
Melaka, Malaysia, 16 December 2020 – Leading flexible packaging manufacturer Daibochi Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) saw its net profit for the first quarter ended 31 October 2020 (1Q21) grow 16.5% to RM12.8 million from RM11.0 million previously, supported by higher sales to major consumer brands.
Group revenue rose 2.7% to RM156.7 million in 1Q21 from RM152.6 million previously, led by contributions from packaging sales in the Malaysian market which expanded 5.1% to RM88.5 million from RM84.2 million previously. Exports remained largely unchanged at RM68.2 million in 1Q21 versus RM68.3 million previously.
Daibochi’s Executive Director Low Jin Wei reiterated that while the Group remained resilient in supporting flexible packaging requirements of MNCs in the food and beverage (F&B) and fast-moving consumer goods (FMCG) sectors, it is also paving the path forward by developing new sustainable solutions and expanding capacity.
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