Komarkcorp recorded a PBT and PAT of RM99,000 and RM0.11 million respectively for 2QFY22 compared to LBT and LAT of RM2.37 million and RM2.53 million for 2QFY21.
KUALA LUMPUR (December 2): Komarkcorp Berhad (Komarkcorp), a provider of packaging and printing solutions with their new mask division, registered revenue of RM18.16 million for the second quarter ended October 31, 2021 (2QFY22), which is a significant rise of 119.91 per cent, compared with RM8.26 million for the second quarter ended October 31, 2020 (2QFY21).
Komarkcorp recorded a profit before tax (PBT) and profit after tax (PAT) of RM99,000 and RM0.11 million respectively for 2QFY22 compared to a loss before tax (LBT) and loss after tax (LAT) of RM2.37 million and RM2.53 million for 2QFY21.
The company has returned to profitability for the first time since FY17 and the positive financial improvement was mainly contributed by the higher revenue generated from both the label and packaging division as well as the new mask division.
For the six months period ended October 31, 2021 (6MFY22), Komarkcorp reported cumulative six months revenue of RM31.57 million, which is an increase of 86.37 per cent compared to RM16.94 million for six months in the previous year.
The revenue generated as of 2QFY22 represents almost 84 per cent of FY21’s entire revenue. While for the same period, recorded LBT of RM2.50 million and LAT of RM2.51 million.
Label and packaging division is the largest contributor to the Company’s total revenue, contributing 71.50 per cent or RM22.57 million of revenue, while the new mask division recorded a revenue of RM8.99 million or 28.5% to the Company’s total cumulative revenue for 6MFY22.
On the geographical segmentation review, Malaysia is the largest market to the company’s overall revenue for 6MFY22, contributing 74.53 per cent or RM23.53 million, followed by Thailand and Singapore at RM8.25 million and RM3.97 million respectively.
Group executive director, Roy Ho, said: “This is the start of a better year for us, as we witness the Company back on solid financial performance and return to profitability since we have finally broken our five-year streak of losses since FY2017 despite the pandemic issues.
“The demand for mask is expected to be greater as the world grapples with the rampaging Covid-19 virus, with the newly discovered Omicron variant, posing higher infection risk according to experts.
“Some countries have reinstated mask mandates aimed at curbing the spread of the infectious virus, not taking the risk of overwhelming healthcare facilities again. As such, wearing a medical grade face mask is the main priority that governments and healthcare specialists emphasise on.”
“While our order book remains encouraging and robust and is filled until March 2022, with the festive seasons approaching, more orders will be coming in from our customers for the upcoming festive period from Chinese New Year until Hari Raya Aidilfitri.”
At present, the Company is running 30 production lines at its Balakong factory, while another 20 production lines will be installed at its new factory located at Meru, Klang, which is targeted to be fully operational by January 2022.
“Our entry into the production of face masks is to cushion any adverse impacts from the consumer packaging and printing services industry, as we anticipate that the outlook for the industry remains challenging in the foreseeable future.
“However, the quarter on quarter growth of the business, plus the positive flow on impact of our labelling and printing business from OEM mask contracts, show an encouraging sign that this revenue segment will continue to grow and margins will improve as efficiency kicks in.”