KUALA LUMPUR: Minox International Group Bhd recorded a net profit of RM2.2 million in the third quarter (Q3) ended September 30, 2023 on the back of RM13.6 million revenue.
This is the second interim financial report announced in compliance with the ACE Market Listing Requirements of Bursa Malaysia.
There are no comparative figures for the preceding corresponding quarter and period-to-date available as no interim financial report was prepared for the comparative financial period concerned.
For the period of nine months ended September 30 (9M23), 2023, Minox delivered a revenue of RM39.6 million of which 93.1 per cent was derived from customers in the food and beverage (F&B) industry with the balance from pharmaceutical and semiconductor sectors.
Domestic sales contributed 26.7 per cent while export sales made up 73.3 per cent of turnover with Indonesia being the largest contributor at 40.1 per cent, followed by Singapore (18.2 per cent), Thailand (8.8 per cent) and others (6.3 per cent).
As for the bottom-line, net profit for 9M23 stood at RM6.2 million, giving rise to a net profit margin of 15.7 per cent.
Managing director Cheong Chee Son said this is the company's first results announcement post-listing, and going forward, it remains committed to delivering healthy performance at operating level, excluding the listing expenses.
"While the business environment remains challenging, we have confidence in the positive long-term trend, driven by the growing demand for sanitary valves and fittings in Asia Pacific," said Cheong.
Forging ahead, Cheong said the company is now executing its expansion plans.
With the funds raised from its recent listing, he said the company will introduce new vacuum fittings and valves tailored for the semiconductor industry, thereby expanding our product portfolio to cater to the demands of this growing sector.
"Additionally, the construction of our new Warehouse four in Puchong will increase our storage capacity in Malaysia by 73.9 per cent, accommodating our growing business volume.
"Outside Malaysia, our upcoming new warehouse in Singapore is slated to be operational in the third quarter of 2024, which will triple our storage capacity there.
"This facility will not only serve as a storage hub for customers in Singapore and abroad, but also provides additional capacity to store the new vacuum fittings and valves for the semiconductor industry," he added.
