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IR Adviser :

Daibochi net profit grows 5.2% to RM6.5 million in 1Q16 [PRESS RELEASE]

  • Targets higher exports to Asia Pacific F&B and FMCG sectors
  • Earmarked RM13 million CAPEX for expansion of Daibochi Plastic Plant 2
  • Declares first interim single tier dividend of 1.45 sen per share in respect of FY2016 payable on 10 June 2016

Melaka, Malaysia, 4 May 2016 – Leading flexible packaging manufacturer Daibochi Plastic and Packaging Industry Berhad (Daibochi; 耐慕志; Bloomberg: DPP:MK; Reuters: DPPM.KL) reported 5.2% higher net profit of RM6.5 million for the first quarter ended 31 March 2016 (1Q16) from RM6.2 million a year ago on stronger export sales.

Revenue rose 4.1% to RM89.7 million in 1Q16 from RM86.2 million previously. Exports made up RM47.5 million of 1Q16 revenue, growing 17.3% from RM40.5 million in 1Q15.

Managing Director Thomas Lim said that Daibochi had consistently delivered innovative and high-quality flexible consumer packaging, which have paved the way for increasing orders and new contracts from leading international brands in the Asia Pacific region.

Mr. Thomas Lim (林树坤), Managing Director of Daibochi Plastic and Packaging Industry Berhad said:

“Daibochi is on track to commence production for several new orders for the Australia and New Zealand market in the second and third quarter of 2016.

We also strive to grow our exports sales to 60% of total group revenue in the coming years, from approximately 53% in FY2015, in line with our strategy to strengthen our brand and regional market reach.

Meanwhile, the Group has commenced the second expansion phase of Daibochi Plastic Plant 2, and allocated RM13 million capital expenditure for new machinery and other works. The enlarged production capacity would allow us to take on more orders from existing clients as well as expand our multinational clientele.”

Read the full press release here.

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