KPS Berhad Delivers Steadier 2Q24 Results, Stronger Revenue And Earnings

SHAH ALAM, Malaysia, Aug 27 (Bernama) -- Kumpulan Perangsang Selangor Berhad (“KPS Berhad” or “the Company” or “the Group”) (KPS, Bursa: 5843; Bloomberg: KUPS:MK; Reuters: KPSB.KL) today announced its financial results for the quarter and period ended 30 June 2024. KPS Berhad reported a 10% growth in revenue to RM280.7 million for the quarter, compared to RM255.1 million in the corresponding quarter last year (“Q2 FY2023”), reflecting an improved demand from the consumer electronics segment and as a result, a recovery in the manufacturing business. The Company also posted a profit after tax and zakat (“PAT”) of RM10.1 million, up from RM3.6 million, supported also by an increased contribution from the trading business.

HIGHLIGHTS FOR THE QUARTER ENDED 30 JUNE 2024

Aligned with the recovery in consumer demand, KPS Berhad posted considerable revenue improvement during the quarter. Increased orders from key customers have notably enhanced the performance of Toyoplas Manufacturing (Malaysia) Sdn Bhd ("Toyoplas") and CPI (Penang) Sdn Bhd ("CPI"). Toyoplas capitalised on the customers’ shifting logistic strategy and uptick in the European markets, both leading to a higher order pull. At the same time, CPI benefited from stronger demand from its communications and information technology (“CIT”) customers. These achievements highlight the Group’s effective strategy in navigating market fluctuations and seizing emerging opportunities.