Pelikan Sees Q1 Improve, Has Till December To Submit Financial Plans

Pelikan generated sales of RM31 million in the current quarter compared to RM2.8 million in the previous year’s corresponding quarter. The significant increase in turnover was due to the continued revenue generated for purchasing of Pelikan branded products which is now classified as 3rd party revenue. Besides, the development of the revenue in markets such as China/Taiwan has been fairly good in the current quarter.

The Group achieved a profit before tax of RM1.4 million in the current quarter as opposed to a loss of RM3.4 million in the corresponding quarter last year

The Group recorded a profit for the financial period in the current quarter as compared to a loss for the financial period in the preceding quarter mainly due to the one off effects from the from the deconsolidation and disposal in the preceding quarter.

Following the completion of the Disposal, the Company is classified as an affected listed issuer under paragraph 8.03(A) of the Bursa Malaysia Listing Requirements. The Company has until 13 December 2024 to submit a regularisation plan to the relevant authorities for approval to address the Company’s affected listed issuer status.

Pelikan said it will continue to promote and build the remaining stationery business that it has, particularly in the Asian region, as a distributor for the “Pelikan” and “herlitz” brands.

Company declared a single-tier special dividend of 2 sen per ordinary.

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