Karex Bhd, the world’s largest condom producer, reported a web revenue of RM3.9 million for the fourth quarter ending June 30, 2023 (This autumn 2023), marking a big turnaround from the RM3.4 million loss in the identical interval final yr.
The corporate’s income for the quarter grew by 10.0% to RM134.9 million, in comparison with RM122.7 million in This autumn 2022.
The rebound in profitability was attributed to elevated gross sales of condoms, lubricants, and medical merchandise like catheters.
Favorable overseas trade charges and the normalisation of uncooked materials prices additionally contributed to the improved monetary efficiency.
For the complete fiscal yr ended June 30, 2023 (FY2023), Karex achieved a web revenue of RM10.5 million, a optimistic shift from the RM6.2 million loss within the previous yr.
The corporate’s income for FY2023 surged by 26.2% to RM532.1 million, up from RM421.6 million in FY2022.
Karex is optimistic about its income progress prospects, pushed by the introduction of recent merchandise and elevated post-pandemic demand.
Nevertheless, the corporate acknowledges the necessity to handle ongoing challenges associated to world provide chain disruptions and rising prices with the intention to preserve profitability.
Karex declared a primary interim dividend of 5 sen per share for FY2024, with the dividend cost scheduled for November 6, 2023.
Karex’s shares skilled a notable enhance of 6.5 sen or 11.61%, closing at 62.5 sen. The corporate’s market capitalisation reached RM658 million. –TMR
