KYM Holdings Bhd reported a marginal lower revenue of RM26.146 million for 4QFY2024 compared with the revenue of RM27.226 million in the corresponding quarter last year. The group’s profit before tax was RM0.402 million for 4QFY2024 compared to RM0.801 million in the previous corresponding quarter, PAT was however higher a RM1.9 million compared to a loss of RM277, 000 recorded in the previous years quarter.
The group sad the lower revenue was mainly attributable to the lower sales from the Carton Box division, primarily due to the change in local consumers behaviour in the F&B sector and slower market sentiment in the E&E industry.
For the full year, KYM reported a lower revenue of RM101.131 million for the financial year ended 31 January 2024, a 16% drop from RM120.380 million in the corresponding period last year whilst the Group profit after tax increased to RM13.05 million from RM8.927 million in the preceding financial year while PAT was also higher at RM13 million versus RM8.5 million in 2022
The lower revenue was mainly attributable to the lower contribution from the Multiwall Industrial Paper Sacks division. The improved performance was primarily due to the gain on disposal of the land and buildings of RM15.285 million.
Looking ahead, the group said global market outlook continues to remain challenging with expected raw material price increases in Q2 and Q3 2024 and the persistent volatility of Malaysian Ringgit against United States Dollar (“USD”).
The Board said it is cautiously optimistic that the Group is able to achieve satisfactory performance in the coming financial year.
