KUALA LUMPUR (Feb 26): Pecca Group Bhd's net profit for the second quarter ended Dec 31, 2020 (2QFY21) jumped 45% to RM6.05 million, from RM4,15 million a year earlier, on stronger contributions from automotive leather car seat cover sales and a growing healthcare segment.

In a bourse filing today, Pecca said revenue for the quarter rose 25.8% to RM39.5 million for 2QFY21, from RM31.4 million for 2QFY20, on the back of increased deliveries of car seat covers to automotive manufacturers amid higher domestic car sales.

Earnings per share (EPS) increased to 3.5 sen versus 2.36 sen previously.

Pecca did not declare any dividend for the quarter.

For the six months ended Dec 31, 2020 (6MFY21),  Pecca’s net profit rose 27% to RM11.15 million from RM8.76 million as revenue grew to RM72.61 million versus RM66.27 million earlier.

In a separate statement, Pecca group managing director Datuk Kelvin Teoh Hwa Cheng said the record performance in 2QFY21 and consistent growth in two consecutive quarters indicated a strong rebound since the first movement control order (MCO) in 2020, and "our ability to deliver more car seat covers to clients such as Perodua and Proton".

“The extension of the automotive sales tax exemption until June 30, 2021, along with upcoming launches of new models by automotive players, is also expected to bolster the automotive sector in the near term.

“Additionally, we saw major quarter-on-quarter (q-o-q) revenue expansion in our healthcare segment as we received a higher number of face mask orders from medical establishments, retail outlets and corporate customers.

“We are gradually ramping up production levels to meet robust demand in Malaysia, and will continue to develop our export markets,” he said.

At the midday break today, Pecca had shed 0.97% or two sen to RM2.04, valuing it at RM383.52 million.