KUALA LUMPUR: Daibochi Plastic and Packaging Industry Bhd’s net profit fell 6.3% to RM6.19 million or 5.45 sen a share for its first quarter ended March (1QFY15) from RM6.6 million or 5.8 sen a share a year ago, on higher depreciation and labour costs. Revenue fell 4.7% to RM86.16 million from RM90.39 million.
In a statement yesterday, Daibochi said the lower revenue was due to a slight decline in export sales for 1QFY15, and deferred orders for new product lines to 2Q and 3Q.
The group declared a first interim dividend of 3.5 sen per share for FY15, translating into a payout ratio of 64.4%. The dividend is payable on June 19.
Managing director Thomas Lim said management will continue to optimise operational efficiency through better waste control and production methodologies. “We are mindful of ongoing fluctuations to currency and raw material prices, and are prepared to employ the necessary mitigating measures.”
This article first appeared in The Edge Financial Daily, on May 8, 2015.