ES Ceramics 3Q net profit up 41% on higher sales, better product mix

ES Ceramics 3Q net profit up 41% on higher sales, better product mix
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KUALA LUMPUR (April 25): ES Ceramics Technology Bhd posted a 41.22% increase in net profit to RM11.96 million for its third quarter ended Feb 28, 2022 (3QFY22), from RM8.47 million a year earlier, helped by higher sales output from the additional production capacity.

Earnings per share rose to 2.37 sen from 1.82 sen, the group's bourse filing showed.

Revenue rose 30.13% to RM29.42 million from RM22.61 million in 3QFY21.

On a quarter-on-quarter basis, ES Ceramics' net profit was 15.4% lower compared with RM14.14 million in 2QFY22, while revenue fell 13.08% from RM33.85 million, mainly due to a decrease in sales volume.

No dividend was declared for the quarter compared with in the previous year.

For the nine-month period ended Feb 28, 2022, net profit soared 126.62% to RM35.53 million from RM15.68 million in the previous corresponding period, with revenue up 76.99% to RM88.74 million from RM50.14 million.

ES Ceramics attributed the results mainly to the higher sales output from the additional production capacity, better product mix and deferment of deliveries from previous quarters as requested by the customers.

On prospects, ES Ceramics said despite the prevailing challenges, the group remains cautiously optimistic about the long term business prospects.

It said it will continue to actively pursue various business strategies to increase its revenue, focus on improving efficiency, and implement cost control measures.

ES Ceramics' shares closed 0.5 sen or 1.49% lower at 33 sen, valuing the group at RM166.8 million.

S Kanagaraju