KUALA LUMPUR: Volcano Bhd's net profit increased marginally at 0.8 per cent to RM1.85 million during the quarter ended June 30, 2022 from RM1.83 million.

Revenue in the same quarter eased 14.9 per cent to RM17.92 million from RM21.05 million.

The company had recently changed its financial year end to June 30 from December 31 to facilitate better management of resources for financial reporting.

In a filing to Bursa Malaysia today, the company said the nameplates segment and the plastic injection moulded parts segment contributed revenue of RM10.36 million (57.81 per cent) and RM7.56 million (42.19 per cent), respectively.

The lower revenue recorded for the quarter was mainly due to lower sales of its nameplates products to key customers in the electrical and electronics industry.

"The higher net profit was mainly due to the higher tax provision in the corresponding quarter of the preceding financial year," it said.

For the six-month period, Volcano's net profit increased 18.1 per cent to RM3.84 million from RM3.25 million, while revenue increased marginally to RM38.83 million from RM38.71 million.

This was mainly due to the one-off listing expenses incurred in the corresponding preceding six months period of preceding financial year.

On prospects, Volcano said the sales demand for the nameplates segment is expected to be challenging amid the rising global economic concerns over elevated inflation and softening demand from its products' end-user industries.

"For the plastic injection moulding parts segment, the orders from our key customers are expected to remain positive for this financial year.

"Barring any unforeseen circumstances such as disruption to supply chain and potential economic slowdown, we are of the opinion that our financial results for this financial year will remain favourable," it said.