KUALA LUMPUR (April 27): Book publisher Sasbadi Holdings Bhd posted a net profit of RM8.34 million or 6.56 sen per share in the second quarter ended Feb 28, 2015 (2QFY15), on revenue of RM32.11 million.

Sasbadi said it could not provide comparative figures, as it was only listed on July 23, 2014. The initial public offering had raised it RM25.228 million.

For the cumulative six months ended Feb 28, 2015 (6MFY15), Sasbadi reported a net profit of RM9.98 million or 7.86 sen per share, on revenue of RM48.44 million.

On the utilisation of its listing proceeds, Sasbadi said it had spent RM6.728 million, giving it a balance of RM18.5 million.

Going forward, Sasbadi said it will focus on expanding its conventional publishing business, which it expects to experience organic growth from new products that will be launched during financial year ending Aug 31, 2015 (FY15).

“In addition, the group will continue to look for growth opportunities via acquisitions of suitable targets or intellectual properties within the industry,” the group said in a filing with the local bourse this evening.

On the impact of the goods and services tax (GST) from April 1, Sasbadi said it may see a temporary slowdown in consumer spending in the next few months.

“Nevertheless, it is to be noted that books are zero-rated products,” the group said, adding it is “cautiously optimistic, but will remain positive” on its prospects for the next six months.

The stock ended its trade today 3.13% or 7 sen higher at RM2.31, valuing it at RM285.75 million.