Cast acrylic sheet manufacturer Asia Poly Holdings Bhd has registered a net profit of RM4.08mil for the third quarter ended September 30, 2020, as compared to a net loss of RM2.13mil recorded during the same quarter last year.
The improved net profit performance was mainly attributed to the group’s manufacturing segment, which saw higher average selling price, lower material cost and better factory utilisation rate achieved during the quarter.
This brought Asia Poly’s nine-month cumulative net profit to RM4.7mil, as compared to the corresponding period last year, which saw a RM6.64mil net loss.
In a Bursa Malaysia filing yesterday, Asia Poly noted that it had received strong demand from new customers in the US and European markets, boosting its export sales to both continents by 2,583% to RM10.25mil during the quarter.
“During this year, the demand of the cast acrylic sheet soared significantly due to installations of acrylic sheets in shops, restaurants, offices, hospitals and other common spaces to prevent virus transmissions and enable social distancing.
Post time: Jul-15-2021