Next Green Global swings to a profit in Q2

PETALING JAYA: Next Green Global Bhd swung into the black for the second quarter ended Dec 31, 2017, on recovery of debts of RM2.2 million and lower operating costs.

The company operates as a printer, offering prepress (including desktop publishing), press and postpress.

Next Green made a net profit of RM312,000 for the quarter under review, compared with a net loss of RM2.8 million for the quarter ended Dec 31, 2016.

This was on 24% higher revenue of RM5.8 million, compared with RM4.7 million for the same quarter in 2016.

The company said it was able to turn in a small profit of RM0.3 million in the current quarter, and with the overseas print orders received in the third quarter and the drive to increase local sales, it expects to be able to increase sales.

"In view of the foregoing, the board is of the view that it would be able to perform satisfactorily in the year ending June 30, 2018," it said.

For the six month period losses narrowed to RM3.0 million, compared with RM5.2 million for the same period ended Dec 31, 2016.

This was on an almost 18% decline in revenue to RM9.3 million, compared with RM11.3 million for the corresponding period in 2016.

The company’s stock was up half a sen to 39 sen with some 447,300 shares changing hands.