KUALA LUMPUR (Oct 27): Spritzer Bhd posted a net profit of RM6.67 million for the three months period ended August 31, 2016 (3MFY16) on a revenue of RM78.6 million.

In the company's latest results filings yesterday, no past quarterly figures were provided for comparison as the group have changed its financial year end from May 31 to Dec 31.

But if compared to the three months ended Aug 31, 2015 (3MFY15), its revenue have gone up 18% from RM66.7 million previously, mainly due to higher sales for both bottled water products and packaging. 

Yet, its 3MFY16 profit before tax (PBT) only came in at RM9.2 million, down 2% year-on-year from the RM9.4 million recorded previously.

The weaker PBT was mainly due to higher input costs and selling distribution costs incurred for market exploration, product launching and advertising and promotion in China.

Its manufacturing segment's revenue was at RM3.9 million, up 17% y-o-y, on higher sales volume.

Its trading segment's revenue was up 31% y-o-y at RM4.6 million, due to new sales to China. 
Looking ahead Spritzer Bhd said the slower economic growth and weaker domestic currency will dampen consumer sentiments and dent consumption.

But the company remains confident despite the stiff challenges, as it believes the trend for bottled water consumption will continue to be positive "as it is the preferred choice among consumers who want healthier drinks".

“We remain confident that the demand for our bottled water products will be stable and the directors expect the group to perform satisfactorily in the financial period ending 31 December 2016,” it added.

At Bursa Malaysia yesterday, Spritzer's shares slipped two sen to close at RM2.46, valuing the group at RM421.9 million.