Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Nov 23): Electronic manufacturer Salutica Bhd posted a 16.9% hike in its net profit to RM6.45 million for its first financial quarter ended Sept 30, 2017 (1QFY18), from RM5.52 million in the same quarter last year, on the back of higher revenue.

Quarterly revenue stood at RM83.80 million, up 14.7% compared with RM73.07 million recorded in 1QFY17.

In a filing with Bursa Malaysia, Salutica said increase in revenue was contributed by shipment of a new product from a major customer, as well as an inherent increment in demand before the year end holiday season.

"The Bluetooth headsets revenue contribution for the current quarter ended Sept 30, 2017 was approximately RM82.5 million of total revenue. Non-Bluetooth products and in-house brand FOBO made up the balance of RM1.3 million," the filing added.

Earnings per share was raised to 1.66 sen, compared with 1.42 sen a year ago.

For 1QFY18, the group declared a second interim single tier tax-exempt dividend of 0.6 sen per ordinary share, amounting to approximately RM2.328 million, to be paid on Dec 22, 2017.

At the moment, Salutica said it had begun developing Bluetooth-enabled personal healthcare related products under its in-house brand, FOBO.

"Currently, we are at the proof of concept stage, based on engineering prototypes. If our venture into healthcare-related products are successful, they will contribute to additional revenue and earnings stream for the group," the filing added.

Additionally, the group is also continuing with manufacturing of a USB-powered device that adds touchscreen functionality to a non-touch laptop screen.

"The board is of the view that the group will enjoy positive growth and favourable prospects in the long term," Salutica said.

At market close today, Salutica share price was unchanged at RM1.50, with a market capitalisation of RM578.12 million.

      Print
      Text Size
      Share