Strong demand lifts Daibochi Q1 earnings

TheStar Wed, Dec 16, 2020 06:19pm - 4 months ago

KUALA LUMPUR: Flexible plastic packaging maker Daibochi Bhd posted higher earnings in the first quarter ended Oct 31 on higher sales.

Demand for its products, deemed as essential components in the essential food and beverages packaging supply chain, the company said has remained relatively strong for the period under review.

"The Group remains cautiously optimistic that the current financial year would remain positive driven by the resilient demand for its innovative and sustainable flexible plastic packaging solutions," Daibochi said in a filing with Bursa Malaysia today.

Net profit rose to RM12.8mil from RM11mil a year ago.

Revenue was up at RM156.7mil compared with RM152.5mil previously.

As part of its longer term strategy to enhance its overall competitiveness, Daibochi has embarked on a capacity expansion with recent acquisitions of new printing, lamination and bagging machines to boost its production efficiency and capabilities.

"This expansion initiative, which commenced in financial year 2020, remains on track and will provide a boost to the Group’s ability to address its customers’ specific needs," it said.

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