Komarkcorp Berhad which was primarily involved in packaging and printing but expanded on opportunity into mask making, saw its revenue go up by 54% mainly attributing to the new venture.
The company registered revenue of RM13.41 million for the first quarter ended July a 54.48% compared with RM8.68 million for the first quarter ended for the same period in 2020.
For the complete year Komarkcorp recorded a 223.93% rise in gross profit of RM1.91 million for 1QFY22 compared with RM589,000 for 1QFY21. However, the Company recorded a loss before tax of RM2.60 million in the quarter under review compared with RM1.50 million in 1QFY21, mainly due to non-cash items of impairment of inventories in Thailand as well as increased depreciation from mask machines.
Group Executive Director, Roy Ho, found the mask division being the main reason for the rise in revenue as mask consumption is still increasing given the ongoing pandemic making safety a foremost concern. The increasing demand for printed and non-traditional masks is also a trend the company is exploiting as a niche, merging both areas of its business.
“We plan to have a total of up to 128 production lines, with 102 productions lines for three-ply face masks and 26 lines for respirator face masks by 2023. This will give us an annual production capacity of 1.22 billion units of three-ply face masks and 312 million units of respirator face masks. At present, we have 26 production lines with 4 more lines commissioning within the month.”
The focus on the production of face masks is to balance out the risks of the company’s other businesses of packaging and automatic labelling machines which is expected to remain challenging.
