KUALA LUMPUR (Aug 21): Kotra Industries Bhd saw its net profit more than double to RM5.57 million in the fourth quarter ended June 30, 2018 (4QFY18) from RM1.93 million last year due to higher foreign exchange (forex) gain, lower finance cost incurred and rationalisation of selling and administration expenses.

Earnings per share were at 4.19 sen in 4QFY18, compared with 1.46 sen a year ago.

Quarterly revenue was 5.02% higher at RM44.3 million, against RM42.18 million in 4QFY17, driven by higher tender supply and sales of health supplement products to local markets, Kotra reported in a filing with Bursa Malaysia today.

For its cumulative 12 months ended June 30, 2018 (FY18), its net profit stood at RM15.75 million, 27.04% higher, versus RM12.4 million in the previous year, while revenue was up 7.28% to RM178.48 million from RM166.37 million in FY17.

Moving into FY19, the group will continue to strive to increase its market share in both the local and export markets, amid the challenging current economic conditions.

Kotra said it will also seek to secure new tenders and contract manufacturing to utilise its available production capacity while leveraging the research and development (R&D) activities for new products.

Shares of Kotra closed one sen or 0.58% lower at RM1.70 today, bringing its market capitalisation of RM227.99 million.