CEO Morning Brief

DKSH's 1Q Net Profit Rises 9% to RM40m

Publish date: Fri, 17 May 2024, 09:41 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (May 16): DKSH Holdings (Malaysia) Bhd's (KL:DKSH) net profit rose 9.2% to RM40.45 million for the first quarter ended March 31, 2024 (1QFY2024) from RM37.03 million a year ago, on the back of a 5.6% increase in revenue to RM2.07 billion from RM1.96 billion previously.

In a filing with the local bourse on Thursday, the market expansion services provider attributed the better bottom line and top line to strong sales from existing clients and new clients in the healthcare segment, higher outlet sales, as well as resilient sales for the consumer goods segment.

Earnings per share increased to 25.65 sen for 1QFY2024, compared with 23.49 sen a year earlier, according to the market expansion services provider in a bourse filing.

Despite challenges arising from the current macroeconomic climate, DKSH said it is cautiously optimistic about the outlook.

"Our strategic emphasis remains on growing existing businesses and securing new ones, improving cost and resource efficiency, managing working capital, and prudently monitoring the short-term outlook to navigate the prevailing environment," the group said.

Shares in DKSH settled 15 sen or 3.09% higher at RM5.01 on Thursday, giving the group a market capitalisation of RM789.87 million. The counter has risen 9.39% year-to-date.

Source: TheEdge - 17 May 2024

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