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NewsKarex FY14 net profit rises 56% to RM45.2 mil
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Karex FY14 net profit rises 56% to RM45.2 mil
by Cals Mon 25 Aug 2014, 03:29
| Karex FY14 net profit rises 56% to RM45.2 mil |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Friday, 22 August 2014 17:52 KUALA LUMPUR (Aug 22): Karex Bhd’s net profit stood at RM12.2 million in the fourth quarter ended June 30, 2014, on the back of revenue totalling RM63.1 million. In a statement to Bursa Malaysia, the condom maker said assuming it consolidated the financial performance of its subsidiaries, the 4Q profit and revenue would came higher, compared to the same quarter last year. On a consolidated basis, profit before tax for 4Q jumped 21.3% to RM13.6 million, from RM11.2 million in the previous corresponding quarter. Meanwhile, revenue notched 0.3% higher to RM63.1 million, compared to a year ago. Karex, which was listed October last year, attributed the better performance to higher volume of condom sales achieved, due to the installation of additional manufacturing capacity. On a consolidated basis, net profit for the full year surged 55.6% to RM45.17 million, while revenue jumped 23.3% to RM285.3 million. On the group’s prospects for the next financial year, Karex said the consumption of condom is expected to rise in tandem with population growth and the rising awareness of using condom for planning and HIV/AIDS prevention. “In this respect, the group’s prospects for FY15 are expected to be favourable, as the group continues to secure new orders on the back of rising demand.” |
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