KUALA LUMPUR (Oct 30): Homeritz Corp Bhd’s fourth quarter net profit jumped 52.74% to RM7.01 million, from RM4.59 million a year ago, thanks to higher revenue and a stronger US dollar against the ringgit.

Earnings per share (EPS) in the quarter ended Aug 31, 2017 rose to 2.34 sen from 1.53 sen.

The furniture maker has proposed a final dividend of 2.2 sen per share, bringing total payout for the financial year to 4.2 sen per share. “This represents more than 40% of the consolidated net profit attribute to the owners of the company for FY17,” it said.

Homeritz’ revenue in the quarter rose 16.91% to RM39.66 million, from RM33.92 million previously, amid a stronger US dollar in which its products are sold, added with higher sales volume.

For its full-FY17, Homeritz saw net profit increase 10.21% on-year to RM30.89 million, while revenue rose 7.23% to RM168.96 million — both again attributable to the higher sales volume incurred, as well as the higher exchange rate of the greenback against the ringgit.

“The strengthening of USD not only improved both revenue and profit but also cushioned the rising of labour costs,” said Homeritz.

On prospects, the furniture maker said: “The group will continue to remain focused in its core business of design, manufacture, and sale of upholstered home furniture which includes upholstered sofas, upholstered dining chairs and upholstered bed frames.”

Homeritz’s share price closed half  a sen or 0.53% higher at 95 sen, giving it a market capitalisation of RM285.01 million.