Bright Packaging posts losses in Q4

PETALING JAYA: Bright Packaging Industry Bhd saw a net loss of RM109,000 in the fourth quarter ended Aug 31, 2017 compared with a net profit of RM1.71 million a year ago, due to higher operating expenses.
Its revenue rose 7% to RM15.42 million from RM14.41 million in the previous year's corresponding quarter due an increase in customers orders from the tobacco industry.
For the full year period, Bright saw a net loss of RM2.60 million compared with a net profit of RM1.77 million a year ago also on significantly lower revenue.
Its revenue fell 32% to RM42.19 million from RM62.37 million in the previous year.
"Barring unforeseen circumstances, the directors foresee a reasonable performance for the group for the year ahead," Bright said.
Bright closed 1.75% lower at 28 sen with 314,500 shares traded.