DXN Posts Lower 2Q Net Profit Of RM65.97 Mln
KUALA LUMPUR, Oct 24 (Bernama) -- DXN Holdings Bhd posted a lower net profit of RM65.97 million in the second quarter of the financial year 2025 (2Q FY2025) ended Aug 31, 2024, from RM76.02 million amid higher foreign exchange losses as well as elevated costs for employee benefit and shipping rates.
Revenue, however, was higher at RM488.43 million from RM458.31 million driven by sales increases in Peru and Bolivia, according to its filing with Bursa Malaysia today.
“While profitability margins were impacted by external factors such as foreign exchange fluctuations and increased operating costs, we remain focused on enhancing operational efficiency and exploring new avenues for growth.
“We are confident in our ability to navigate these challenges and deliver long-term value for our shareholders,” executive chairman and founder Datuk Lim Siow Jin said in a statement.
For the first half period, net profit stood at RM151.54 million, lower than the RM153.62 million net profit for the same period last FY, on the back revenue of RM963.49 million versus RM882.29 million previously.
With a strategic focus on expansion into newer markets, sustaining growth momentum, launching innovative products, optimising production efficiency and maintaining resilience in the face of global uncertainties, the group said it is well positioned for continued success in FY2025.
It aims to leverage its strong performance in FY2024 and strategic expansion plans to drive further growth and success in the coming year.
DXN also announced a second interim dividend of 0.8 sen per ordinary share in respect of the FY ending Feb 28, 2025.
-- BERNAMA