PETALING JAYA: DKSH Holdings (Malaysia) Bhd’s net profit for the third quarter ended Sept 30, 2019 rose 16.9% to RM10.74 million from RM9.19 million in the corresponding quarter of the previous year, attributed to the contribution from Auric Malaysia that was acquired in March this year as well as the organic growth of existing clients in all segments.
The group’s revenue also grew 12.8% to RM1.71 billion from RM1.52 billion reported previously.
For the first nine months of the year, DKSH’s net profit came in at RM21.77 million, a 36.1% drop from RM34.05 million achieved in the same period last year, attributed to the one-off project acquisition cost incurred during the period.
Revenue for the period, however, expanded 9.8% to RM4.85 billion from RM4.41 billion.
DKSH said in a filing with Bursa Malaysia that the prospects remain good for the group’s logistics and other segment, while the marketing and distribution segment has a positive outlook due to growth in the existing consumer goods business, an improving cost base and a strong contribution from the acquisition of Auric Malaysia.
The group said the integration of Auric Malaysia is largely complete with all of its staff and system have been integrated into DKSH’s structures and systems and operating results continue to exceed projections.
“Malaysia remains an ideal environment for further growth in the medium to long term and the group expects to continue to grow with the Malaysian economy,” it said.
