Supermax Corporation Berhad (“Supermax” or “the Group”), is pleased to announce its third quarter results for the period ended 31 March 2019 for the financial year ending 30 June 2019 (“Q3FY2019”).
The Group’s turnover increased by 10.4% to RM361.2 million while profit after tax (“PAT”) rose by 2.6% to RM34.9 million, year on year. The earnings before interest, tax, depreciation and amortisation and profit before tax (“PBT”) increased by 9.5% and 8.7% respectively. The higher earnings were attributed to the commissioning of the new replacement lines which resulted in higher output and greater efficiency.
For the first nine months of FY2019, the Group’s revenue was RM1.1 billion, 14.2% higher while PAT was RM109.7 million, 10.2% higher year on year.
To date, the Group’s balance sheet remains healthy with a current ratio of 1.01 times, a gross gearing of 0.36% and a cash and cash equivalent position of RM137.4million.
The Company commented, “We are glad to announce that our results are looking more promising than previous years. The global market for disposable gloves remains vibrant for both the natural rubber and nitrile variants. There was a slowdown in demand earlier. The demand has now rebounded due to factors such as rising healthcare awareness, healthcare reforms mandating its use in the medical sectors and rising consumption in the other non-traditional sectors such as the beauty-related sectors and household-use.
As for our Contact Lens division, the groundwork had been laid with the setting-up of a state-of-the-art clean room manufacturing facility that allows us to produce contact lens of the highest quality. Since then, we have successfully procured licences and approvals that allow us to access into various markets such as the US and Japan, which are the 2 largest markets in the world for contact lens.”