KUALA LUMPUR (July 14): Hospital bed maker LKL International Bhd posted a net loss of RM3.79 million in the fourth quarter ended April 30, 2021 (4QFY21), from a net profit of RM3.18 million a year earlier, underpinned by a less favourable product mix and higher administrative expenses.

In a Bursa Malaysia filing today, the group said revenue declined 56.04% to RM9.43 million from RM21.45 million in 4QFY20, due to lower contributions from its manufacturing and trading segments.

On a quarter-on-quarter basis, LKL slipped into the red from a net profit of RM59,000 in the 3QFY21, while revenue fell 18.6% from RM11.59 million, mainly due to lower sales of medical/healthcare beds and distributed medical peripherals and accessories.

For FY21 as a whole, the group posted a net loss of RM3.5 million against a net profit of RM4.3 million in the previous year, while revenue slid 9.16% to RM49.92 million from RM54.95 million.

LKL said it remains optimistic that its future prospects will be complemented by robust levels of healthcare expenditure.

It noted that there are healthy orders for medical beds to be delivered in calendar year 2021, affirming the largely resilient demand despite short-term challenges.

“Additionally, the group is exploring innovative healthcare-related businesses to capture growth opportunities in other segments,” it said.

In May, the group formed a joint venture with Focus Medicare Sdn Bhd to open several lifestyle pharmacies in the Klang Valley.

“LKL will also actively look out for strategic opportunities to expand its suite of medical products with the aim of further expanding its reach throughout the healthcare sector,” it added.

Shares in LKL settled unchanged at 28 sen, valuing the group at RM152.98 million. Year to date, the stock has fallen by 70.11%.