KUALA LUMPUR: Packaging supplier Public Packages Holdings Bhd (PPHB) reported a 13.1 per cent increase in net profit to RM10.7 million for the third quarter (Q3) ended Sep 30, 2024 thanks to cost controls and dividend income from investment activities.
This is compared with a net profit of RM9.5 million in the same period in 2023.
PPHB reported a 3.2 per cent increase in revenue to almost RM54.0 million for the quarter, year-on-year.
The company's manufacturing divison, which brings in about 80 per cent of its revenue and profits, saw an almost eight per cent jump in profit before taxation to RM10.9 million for the quarter.
In its filing with Bursa Malaysia Securities, PPHB said it will continue to capitalise on its marketing efforts and execute its market strategy to strengthen its market position.
It will also continue to enhance its operational efficiency and effectiveness amid inflationary pressures.
For the nine months period ended Sep 30, 2024, PPHB reported a 13.1 per cent increase in net profit to RM30.6 million on favourable product mix and cost controlled measures.
This was despite a 1.8 per cent dip in revenue to RM152.7 million due to reduced contributions from the manufacturing division.
The company's share price was up almost seven per cent to 81.5 sen a share earlier.