KTC posts RM2.3 million PAT for 1QFY19
KOTA KINABALU: Kim Teck Cheong Consolidated Bhd (KTC)had announced its interim financial results for the first quarter of financial year ended June 30, 2019 (1QFY19) where it posted its second consecutive quarterly profit after tax (PAT) amounting to RM2.30 million.
The company recorded its first quarterly profit in 4QFY18 amounting to RM4.39 million. The result of its 1QFY19 was announced after a limited review conducted by its auditors.
For the reporting quarter, the company recorded a revenue growth of RM47.24 million or an increase of 44.33 per cent to RM153.79 million as compared to the corresponding quarter in the last financial year.
This was attributed mainly to the growing contributions from its Sabah, Sarawak and Brunei operations due to new distributorships secured in the last financial year, fast-moving inventories and increased marketing efforts.
To-date, its Sabah operations remain the largest contributor to the company’s total revenue for Q1 FYE 30 June 2019 with 55.40 per cent. Simultaneously, the company’s operations in Sarawak and Brunei continue to grow with Sarawak contributing approximately 28.14 per cent and Brunei 16.46 per cent to its total revenue.
The company had also recorded a substantial growth in its PAT to RM 2.30 million in 1QFY19 from RM0.18 million in 1QFY18. These improvements can be attributed to the increase in revenue and gross profit due to new distributorships which have more fast-moving inventories and better product margins.
Basic earnings per share for the reporting quarter is recorded at RM 0.42 sen.