Paos expects better results in FY23

PETALING JAYA: PAOS Holdings Bhd believes its current financial year ending May 31, 2023 (FY23) will be more promising on steadier economic measures.

The soap manufacturer acknowledged facing higher operational costs exacerbated by the rising cost of wages, utilities, logistics, other operational expenses as well as fluctuations in foreign currency exchange rates.

Paos recorded a net loss of RM419,000 for the second quarter ended Nov 30, 2022 compared with a net loss of RM1.22mil for the same quarter of FY22. Revenue increased by more than twofold to RM170.6mil on higher fuel oil and palm oil prices, increase in fuel oil volume as well as increase in hotel occupancy, it said in a filing with Bursa Malaysia.