As a large proportion of revenue is derived from sales to North America, there is a risk that significant fluctuations in the RM to USD exchange rate will affect the results of the Group. In FY2018, the USD weakened by approximately 5% against RM which contributed to the decrease in the Group revenue. Exchange rates are difficult to predict given the number of factors that contribute in determining them. However, the Group hedges accordingly to minimise exposure to significant fluctuations in the RM to USD exchange rate
JayCorp Bhd is partnering Hongkong-based Honsoar International Ltd (HIL) to manufacture and sell kitchen cabinets and bathroom vanity cabinets.
The two companies signed an agreement yesterday to form a joint venture, Honsoar Cabinetry Sdn Bhd, to undertake the business, it said.
JayCorp will have a 60% equity interest in Honsoar Cabinetry, with HIL holding the remaining 40%. The joint venture is anticipated to commence business by the second quarter of the financial year ending July 31, 2020.
Jaycorp Berhad ("the Company") is pleased to announce that the Board of Directors of the Company has proposed a final single-tier dividend of 7 sen per ordinary share in respect of the financial year ended 31 July 2019 subject to the shareholders' approval at the forthcoming Annual General Meeting.
The entitlement and payment dates of the above proposed dividend will be determined and announced in due course.
The group posted a significant jump in net profit to RM4.95 million for the second financial quarter ended Jan 31, 2019, from RM218,000 a year earlier, amid higher furniture demand in the Asian markets. Its sales were also helped by the strengthening of the US dollar against the ringgit. Revenue grew 10% to RM83.13 million from RM75.74 million.
For the first two quarters of this financial year, Jaycorp’s net profit grew 87% to RM11.29 million from RM6.03 million for the previous year’s corresponding period, while cumulative revenue increased 11% to RM175.49 million from RM157.46 million.
I just study the latest annual report. Coming QR will be getting better and better.
1- The turnover and segment resultin the renewable energy segment increased from RM6.1 million and a RM0.04 million loss in FY18 to RM9.5 million and a RM1.5 million profit in FY19 respectively. This was mainly due to a temporary shutdown of the biomass plant in FY18 (for 2.5 months) for a major plant upgrade.
2- more than 60% contribution from furniture & wood business
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Posted by Jack888 > 2019-06-21 09:38 | Report Abuse
buy and accumulate.