[Business Times] Daibochi Q3 pre-tax profit jumps to RM9.3m

25 October 2012

Daibochi Plastic and Packaging Industry Bhd’s pre-tax profit for the third quarter (Q3) ended Sept 30, 2012, jumped 68.5 per cent to RM9.25 million from RM4.54 million in the same period last year.

Revenue declined three per cent to RM65.66 million from RM67.67 million previously, the company said in a statement today.

“Daibochi’s packaging segment is the primary contributor to group revenue, witnessing higher sales of RM65.1 million in this quarter, from RM62.2 million in the previous corresponding quarter,” it said.

Managing Director Thomas Lim said Daibochi is gaining traction in the overseas markets, particularly in Australia, where revenue had risen 26 per cent year-on-year to RM11.7 million in the quarter under review.

“Daibochi’s constant improvements in our manufacturing processes and product innovations position us favourably in our endeavour to expand our footprint in regional markets.

“Our track record of serving quality-centric multinational companies over the past decade are stepping stones towards not just increasing the number of customers we serve, but also in building an increasingly reputable global clientele to grow alongside in the long term,” he said.

Buoyed by the positive performance of the packaging segment thus far, Daibochi is poised to deliver record earnings in the financial year ending Dec 31, 2012, and meet its dividend policy of distributing 60 per cent of net profit to shareholders.

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News Room [Business Times] Daibochi Q3 pre-tax profit jumps to RM9.3m