Friday 29 Mar 2024
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KUALA LUMPUR (Oct 26): Pensonic Holdings Bhd's net profit grew 3% to RM2.26 million for the first quarter ended Aug 31, 2015 (1QFY16) against RM2.2 million a year earlier, despite lower revenue for the quarter under review.

In an announcement to Bursa Malaysia, the company attributed the slightly higher profit for the quarter to better margin control and cost management.

Meanwhile, its revenue fell 7% to RM98.94 million for 1QFY16, from RM106.03 million in the previous year, attributed to the adverse economic conditions and the depreciation of the local currency.

Going forward, Pensonic expects to forge ahead with its expansion plans amid intense competition.

"The group will continue exploring new market, product innovation, maintaining excellent customer relationship, placing emphasis in cost control, inventory management and overhead cost rationalisation.

"In line with the group's effort in expanding emerging markets, the Group carries on to promote and distribute its products to overseas customers through engaging more overseas distributors and business partners," it said.

Besides that, the group said it would continue its efforts in researching and developing new products to keep up with the constantly evolving electrical appliances industry.

"Given our extensive experience in the industry, the board believes that the group can overcome the temporary challenges in the market and remain competitive for the coming period," said Pensonic.

Pensonic fell one sen or 1.7% to 58.5 sen, bringing its market capitalisation to RM77.2 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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