Kian Joo reports 15.17% increase in revenue in Q4 2017
Kian Joo Can Factory Berhad, a manufacturer and distributor of aluminium cans, tin cans and steel cans in Malaysia, recorded revenue of RM494.4 million in Q4, 2017, an increase from RM429.3 million in Q4, 2016.
The increase in revenue was contributed by increase in demand for the Group's products and upward adjustments of selling price to absorb the increase in cost of direct material, the Group said. Profit before taxation was RM22.8 million compared to RM36.2 million in Q4, 2016.
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In the Cans Division, Group generated a total operating revenue of RM313.4 million in Q4, 2017, from RM281.9 million in Q4, 2016 due to increase in demand and adjustment in selling price for aluminium cans to reflect higher cost of materials.
“Profit before taxation of this Division decreased by RM18.0 million in Q4, 2017 to RM16.7 million compared to RM34.7 million in Q4, 2016. The increase in cost of tin plate and aluminium by more than 15% as compared to Q4, 2016 was the main contributing factor for the drop in profit, according to Group press release.
Kian Joo Can Factory Bhd posted 30.05% declined in its net profit to RM89.96 million for the full financial year ended Dec 31, 2017 (FY17) from RM128.61 million in the previous year. Revenue stood at RM1.84 billion.
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