PCCS swings into profitability on stronger attire orders

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PETALING JAYA: Because the orders for its attire enterprise returned to pre-pandemic degree, PCCS Group Bhd recorded a internet revenue of RM1.8mil within the second quarter ended Sept 30.

As compared, it registered a internet lack of RM2.35mil within the earlier corresponding quarter.

The corporate, which has been a provider to many manufacturers together with Puma, Adidas and H&M, additionally noticed its income rising by 21.77% year-on-year (y-o-y) to RM117.97mil from RM96.88mil.

Earnings per share for the newest second quarter have been 0.85 sen. No dividend was declared for the quarter.

Group managing director David Chan Wee Kiang mentioned that PCCS’ turnaround is basically because of a rise of orders in its attire section in China.

“We’re benefitting from the comparatively early financial restoration in China,” he mentioned in a press release yesterday.

Cumulatively, for the primary six months as much as Sept 30, PCCS recorded a internet revenue of RM3.78mil as in comparison with a internet lack of RM732,000 a yr earlier.

Income within the first half interval rose 14.74% y-o-y to RM232.46mil.

Whereas PCCS is predominantly an attire maker, it has been reinventing itself to change into a rent buy and medical units participant in latest occasions.

Chan mentioned the group’s rent buy mortgage e book measurement is predicted to extend over time.

“There’s certainly pent-up demand within the used car market. All through Malaysia, there’s a larger stock of used autos on-line.

“We’re rushing up digital efforts as we will see the demand is there,” he mentioned.

As of Sept 2021, PCCS has kickstarted its rent buy enterprise with a RM5mil mortgage e book, and is anticipating this division to begin contributing within the present monetary yr ending March 31, 2022 (FY22).

As for the medical machine enterprise, Chan mentioned PCCS is at the moment within the midst of making use of for medical machine registration with the authorities in Vietnam, Indonesia, Thailand, Malaysia and Singapore.

He’s optimistic that they are going to have the ability to full the registration course of in not less than considered one of these international locations earlier than the top of FY22.

“We proceed to be vigilant however on the identical time, are looking out to grab alternatives from market instabilities and search breakthroughs for our long-term benefits,” mentioned Chan.



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