PETALING JAYA: Cast acrylic sheet manufacturer Asia Poly Holdings Bhd is on track to return to the black in the financial year ending Dec 31,2020 (FY20) after recording a net profit of RM4.08mil for the third quarter, bringing its nine-month cumulative net profit to RM4.7mil.

This compared to a net loss of RM2.13mil posted in the same quarter last year, and a net loss of RM6.64mil in the corresponding nine-month period last year.

The improved net profit performance was mainly attributed to the group’s manufacturing segment, which saw higher average selling price, lower material cost and better factory utilisation rate achieved during the quarter.

In a press release, Asia Poly executive chairman Datuk Yeo Boon Leong said: “The rising demand for cast acrylic sheet is mainly attributed to the emergence of its new application as a protective barrier against Covid-19.”