Bison's Q3 net profit jumps 52%

PETALING JAYA: Bison Consolidated Bhd saw a 52.28% jump in net profit for the third quarter ended Oct 31, to RM6.18 million from RM4.10 million recorded in the same quarter last year, on the back of higher revenue.

Driven by improved sales from existing outlets and contributions from the new outlets, and continued efforts on management of products and services offerings and collaborations with suppliers, Bison's revenue for the quarter under review increased by 25.48% to RM81.71 million from RM65.12 million.

This is despite higher operating expense, which was 24.5% or RM4.16 million higher than last year's amount of RM16.96 million, due to an increase in number of staff and therefore salary expense.

"In spite of the current market challenges and growing competition, the board of directors remain positive that Bison can continue to deliver profitable results with the on-going efforts to improve products and services offerings and margins coupled with the on-going improvements to its back-end processes and infrastructures to support outlets expansion and growth," Bison's board said in its announcement to Bursa Malaysia.

The company's net profit for the first nine months stood at RM18.74 million, which is 35.50% higher than last year's cumulative net profit for the first three quarters of RM13.83 million.

Revenue also jumped 24.11% to RM237.20 million from RM191.12 million.

Bison's shares were unchanged at RM2.20 with some 775, 100 shares changing hands. It has a market capitalisation of RM683.54 million.