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Does anyone have any info on the new needle punch machinery that has been installed at the factory recently? Info like capacity, potential revenue and profitability of this type of product.
Yes, and I believe it will continue to be bad for some time. Insulation division has been hit with increased production cost (labour and electricity), can't pass to buyer due to contracts in place. Not sure when can renegotiate prices. Hygiene division, during covid, manufacturers increased capacity. Now suffering from over supply in market, just like gloves industry. That is why OCNCASH is trying to introduce new products in Hygiene Division.
Yes, I'm still a share holder. 2024 should be a good year if everything goes as planned. Insulation division will do well. Also, I am waiting for spunlace to improve performance at hygiene division. Maybe 2nd half of 2024.
(continued) decline in demand for masks and Personal Protective Equipment (PPE). This caused priced to drop to below cost. We can see the same thing with Gloves.
Question is, when will we see recovery in the Non-woven hygiene division. When will the new spunlace products bring about a change in its fortune?
Looking at my data for the last few years, the insulation division did ok. Sales for the quarter is the 4th highest quarterly sales for the last few years.
The issue is with the non-woven hygiene division. Which saw its biggest loss based on the data that I have. This is due to excess capacity in the market. During covid, many players expanded capacity and new players entered the market. With relaxation of covid policies, there is a massive (continued)
Disappointing results. Compared to last quarter, insulation division did worst in terms of revenue and profit. Hygiene sales were up marginally. Unfortunately, the loss increased almost 4 times.
As for prospect, the Directors anticipate the performance will maintain at current levels for 2023.
If this is the case, we might see a reduction in dividends for 2023.
As expected, Qtr 2 2023 results not good, made a loss. Looking forward, Qtr 3 2023, will be better. Fires in Canada has caused a shortage in lumber supply. Hope the next 2 Quarters will post a profit.
