Daibochi Berhad Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 16, 2018
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Daibochi Berhad announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of MYR 106,373,000 against MYR 86,836,000 a year ago. Operating profit was MYR 7,061,000 against MYR 7,356,000 a year ago. Profit before tax was MYR 6,274,000 against MYR 6,653,000 a year ago. Profit attributable to the owners of the company was MYR 4,651,000 or 1.42 sen per basic share against MYR 5,045,000 or 1.54 sen per basic share a year ago. The increase in revenue was due to higher domestic and export sales, and new contribution from the Myanmar plant. The decrease in the group profit before tax mainly attributed to higher key raw material costs, particularly for solvent and polyester film.
For the six months, the company reported revenue of MYR 211,114,000 against MYR 180,952,000 a year ago. The increase was due to higher demand from both domestic and export markets, as well as new contributions from the Myanmar plant. Operating profit was MYR 16,442,000 against MYR 15,128,000 a year ago. Profit before tax was MYR 14,816,000 against MYR 14,088,000 a year ago. Profit attributable to the owners of the company was MYR 11,127,000 or 3.40 sen per basic share against MYR 10,813,000 or 3.30 sen per basic share a year ago. Net cash from operating activities was MYR 7,787,000 against MYR 1,896,000 a year ago. Purchase of property, plant and equipment, net of finance leases drawdown was MYR 10,684,000 against MYR 1,693,000 a year ago. Group PBT rose at a slower rate compared to revenue mainly due to foreign currency exchange loss recognised for the six months ended June 30, 2018.
Scientex Packaging (Ayer Keroh) Berhad is a Malaysia-based company that is engaged in the manufacturing and marketing of flexible plastic packaging materials. The Company's products have applications in food, beverage, home and personal care, pet care and responsible packaging solutions. Its customized food solutions cover categories, such as cakes, cookie and crackers, frozen produce, confectionery, noodles and pasta, cheese, sauces and condiments, fresh produce and snacks and nuts. Its customized beverage solutions cover categories, such as powdered, flavor enhancers and infant formulas. Its customized home and personal care solutions cover categories, such as hair care and detergent. The Company's customized pet care solutions cover categories, such as dry food and wet food. Its responsible packaging solutions include mono-material laminate packaging and paper based. Its subsidiaries include Scientex Packaging Management Sdn. Bhd. and Scientex Packaging (Australia) Pty. Ltd.