KomarkCorp's net loss widens to RM3.7 million in Q2

PETALING JAYA: KomarkCorp Bhd saw its net loss for the second quarter ended October 31,2017 widen to RM3.7 million from RM2.34 million a year ago, owing to factors such as its reliance on a single large customer, severe competition and foreign currency losses.
Revenue for the quarter under review fell 7% to RM14.24 million from RM15.31 million due to severe competition in the label printing industry as well as the reduction in orders by its sole large customer who also demanded for the selling price to be reduced.
Nonetheless, Komarkcorp, which manufactures self-adhesive labels, OPP roll-fed and shrink sleeves, said it will continue to diversify its customer base for the remaining quarters.
For the cumulative period of six months, its net loss narrowed from RM9.6 million in the past financial year to RM3.7 million, while revenue fell 10.4% to RM 30.02 million from RM33.51 million.
At 4pm, KomarkCorp's shares fell 1.8% to 27.5 sen on some 643,700 shares traded.