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Current Quarter vs Preceding Year Comparative Quarter
The revenue of the Group for the current quarter grew by 4% to RM9.17 million due to improved consumer sales from the bedding division. Profit before tax decreased by 57% from RM2.15 million to RM0.92 million due to negative contribution from results of associates and higher operating expenses.
The revenue for bedding operation in Malaysia increased by 4% to RM8.35 million due to improved consumer sales. Profit before tax decreased slightly due to higher marketing and distribution costs. Share of results of associates was negative due to loss reported by both the bedding and power businesses.
The performance of the Group for the financial year ending 30 June 2019 is expected to be positive mainly due to the discontinuance of the loss making steel operation.
The Groupâ€™s effort to focus on new and innovative bedding products development and to actively participate in event sales to go to consumers directly has brought satisfactory consumer sales. More effective cost control will be implemented in order to improve profitability.