KUALA LUMPUR: Homeritz
Corp Bhd, which posted a 46.4% increase in net profit for the third quarter ending May 31 (3Q24), is confident about sustaining profitability for the fiscal year ending August 31, 2024.
The furniture manufacturer noted that it is operating in global economic uncertainties while facing rising production costs and fluctuations in foreign exchange rates.
Homeritz said it would remain focused on its core business of designing, manufacturing, and selling upholstered home furniture, including sofas, dining chairs, and bed frames.
“The group is continuing with concerted efforts to develop new products, new designs for existing products, derive better cost efficiencies and effective cost management across all functions,” it added.
Homeritz’s net profit rose 46.4% to RM9.1mil, or earnings per share of 1.96 sen in 3Q24 compared with RM6.2mil, or 1.34 sen in the same quarter last year.
Revenue for the quarter jumped 63.3% to RM61.9mil against RM37.9mil achieved a year ago.
For the nine months to May 31, it posted a net profit of RM27.4mil, up 51.3% from RM18.1mil last year while revenue grew 48.5% to RM173.2mil from RM116.6mil previously.
