Bonia’s 1Q profit down 8% yoy at RM14m

by **Cals** Fri 22 Nov 2013, 22:49

Business & Markets 2013

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com

Friday, 22 November 2013 18:41

KUALA LUMPUR (Nov 22): Bonia’s first quarter ended September 30 saw a fall of 8% year on year in net profit to RM14.2 million.

But revenue for 1QFY13 increased by 7% to RM168 million from RM157 million in 1QFY12.

“The growth (in revenue) was driven by the better sales contributions from Sembonia brand, Jeco group as well as other licensed brands, which contributed 32.0%, 16.7% and 18.5%, respectively of the total increase in revenue,” said the group in its filing to the exchange.

Bonia said the decrease in profit for the third quarter was due to increased operating expenses for the period.

“The group had incurred higher operating costs on advertising costs amounting to RM1.9 million as well as additional RM1.4 million on boutiques rental due to number of boutiques have increased from 90 to 101 in Malaysia,” said Bonia

The group’s prospects for the remainder of 2013 are positive due to its improved economic outlook.

“The group will continue to explore new business opportunities prudently, locally and overseas,” said Bonia. It will also be adding new brands to its portfolio in order to magnify its presence in the luxury segment.

“The board of directors is of the view that the group’s performance for the remaining financial year will remain positive and will continue to grow, albeit at a slower pace,” added the group.