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Quarterly Report For The Financial Period Ended 30 September 2017

Financials Archive

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Condensed Consolidated Statement Of Profit Or Loss
For The First Quarter Ended 30 September 2017

(This figures have not been audited)

Condensed Consolidated Statement Of Financial Position
As At 30 September 2017

(This figures have not been audited)

Review of performance

The Group registered a revenue growth of RM22.9mil or approximately 22% higher than 1QFY17. Details of changes in each service type are as follows:-

Compared to 1QY17, all services reported growth other than the Tug & Barge service where there was a slight decrease in revenue. Seafreight contributed the highest revenue contributions while there are commendable growth registered in Airfreight and 3PL & Warehousing services and also the Supporting services. The increase in revenue are mainly due to increase of activities especially during this 1QFY18.

As compared to 1QFY17, the Group's Profit Before Tax ("PBT") increased from RM7.1mil to RM8.3 million or 17%, as a result of increased activities.

Current year prospects

The International Monetary Fund ("IMF"), in its October 2017 World Economic Outlook report, has raised 2017 projected growth to 3.6% (2016: 3.2%), whilst 2018 growth is projected at 3.5%. Meanwhile, the growth forecast for 2017 and 2018 for the emerging & developing Asia region is at 6.5% which is slightly above 2016's growth rate of 6.4%. At the same time, Malaysia's GDP for 3rd Quarter 2017 grew 6.2% (3Q 2016 : 4.3%).

The positive improvement in the domestic and global economy as noted above are encouraging to the Group as prospects of the Group are much related to the performance of the economy. Barring unforeseen circumstances, the Group expects its business and performance to be positive for the financial year ending 30 June 2018.