Khind Holdings Berhad announced its interim financial results for the fourth quarter of its Financial Period Ended 31 December 2021 and its consolidated results for the Financial Year Ended 31 December 2021.
The Group recorded a growth of over 20.9% in its consolidated revenue for the cumulative 12 months ended 31 December 2021, despite the challenges of pandemic. The consolidated revenue of RM579.25 million represents a growth of RM100.25 million or 20.9%, from RM479.0 million as compared to the corresponding period of FYE 31 December 2020.
The Group posted another increase in its Gross Profit amounting to RM185.98 million as compared to RM154.76 million from the same reporting period which represents an increase of RM31.23 million or 20.2%.
KHIND also registered RM24.98 million in Profit After Tax (“PAT”), a slight decrease of approximately RM3.48 million or 12.2% as compared to the corresponding period. This is mainly due to the one-off gain on disposal of land recorded in the previous corresponding period. Excluding the one-off gain on disposal of land, KHIND registered a substantial increase of PAT of approximately RM10.91 million or 90.5%.
For the Q4 FPE 31 December 2021, the Group posted a growth of 3.6% or RM5.0 million in its revenue to RM143.21 million. Correspondingly, the Group also recorded a slight decline in its PAT of approximately RM0.11 million or 1.8% for the same reporting period.
The Group’s Trading & Service segment, remains as its largest revenue contributor in FYE 31 December 2021 generating RM581.18 million or approximately 79.5% of its total revenue before elimination. This represents an increase of RM106.19 million or 22.4% from the corresponding period of the previous year, contributed by the strong demand in the local market. Local sales increased significantly by 30.1%. Overseas sales also increased moderately by 8.4% due to improving economic conditions outside Malaysia.
Meanwhile, its manufacturing segment contributed RM131.13 million whereas the Group’s investment holding segment contributed RM19.06 million to the Group’s topline in FYE 31 December 2021.
“The three brands under the Group, namely KHIND, Mistral and Mayer, are well-received and credible brands in the market. As such, with the right strategy from the Management coupled with the successful execution by our employees working together with the business partners, KHIND was able to perform well within the industry during the pandemic and has been on an uptrend since 2020,” Group Chief Executive Officer, Adil Jimmy Mistry said.
“While supply chain disruptions, as well as a surge in international freight costs has contributed to the increase in imported material cost, the Group has been successful in mitigating the effects and will continue to embark on cost optimisation exercises as well as improve operational efficiency. We are optimistic that the market sentiment will further improve with the ease of COVID-19 restrictions and have embarked on expanding our regional business and have stepped further into the next phase of growth,” he added.