Kobay has announced its latest quarterly performance for 3QFY22, with revenue coming in at RM100.1 million rising by 184.1% year-on-year from the RM35.2 million reported last year. Profit after tax and non-controlling interest climbed more than twofold from RM7.1 million in 3QFY21 to a record high of RM15.1 million in the quarter under review.
Growth mainly came from the manufacturing segment which saw revenue rising from RM32.3 million in 3QFY21 to RM66.9 million in 3QFY22. Meanwhile, segmental profit before tax jumped 136.8% YoY to RM19.5 million over the same period. The strong performance was largely driven by the surge in demand from semiconductor as well as electrical and electronics (“E&E”) industries.
In addition, the pharmaceutical and healthcare business that was introduced early this financial year also contributed to the overall improvement. The segment reported revenue and PBT of RM27.0 million and RM2.9 million respectively in 3QFY22.
For the nine-month period, Kobay recorded revenue of RM259 million in 9MFY22, reflecting a 135.2% YoY increase. Accordingly, net profit was up by 115.6% YoY from RM18.2 million in 9MFY21 to RM39.3 million in 9MFY22.
Chief Executive Officer and Managing Director of Kobay, Dato’ Seri Koay Hean Eng said “We are delighted to have sustained the strong growth momentum in 3QFY22 with yet another record-breaking quarter. Our net profit of RM39.3 million in 9MFY22 has far exceeded RM26.8 million reported in the financial year ended 30 June 2021 (“FY2021”). In other words, with one more quarter to go, we are on track for a remarkable breakthrough in FY2022.”
Adding the new factory in relation to the production of aluminum frames for solar panels is on the verge of completion and we expect production to begin by the end of 4QFY22. The group is already venturing into electronics manufacturing services with the installation of surface-mount technology lines to meet customers’ needs.
On a quarter-on-quarter basis, revenue rose by 7.8% from RM92.8 million in 2QFY22 to RM100.1 million in 3QFY22 while net profit increased by 4.1% from RM14.5 million to RM15.1 million.
