Regal International Group Sustained 6th Consecutive Quarter of Profitability
Financial Highlights:
| RM (million) |
2Q FY2018 |
2Q FY2017 |
% Change |
1H FY2018 |
1H FY2017 |
% Change |
| Revenue |
18.06 |
30.44 |
– 41% |
48.65 |
70.81 |
– 31% |
| Cost of sales |
10.21 |
20.45 |
– 50% |
31.90 |
48.12 |
– 34% |
| Gross profit |
7.85 |
9.99 |
– 21% |
16.75 |
22.69 |
– 26% |
| Profit before tax |
1.13 |
1.88 |
– 40% |
2.57 |
6.05 |
– 58% |
| Net profit after tax |
0.43 |
1.05 |
– 59% |
1.12 |
3.72 |
– 70% |
| Exchange difference on foreign operations translation, net of tax |
– |
(0.47) |
N.M. |
0.03 |
0.02 |
+ 62% |
| Total comprehensive income for the period |
0.43 |
0.58 |
– 25% |
1.15 |
3.74 |
– 69% |
- Revenue and gross profit were RM18.06 million and RM7.85 million respectively in 2QFY2018, as compared to RM30.44 million and RM9.99 million in 2QFY2017.
- Gross profit margin raised from 32.8% in 2QFY2017 to 43.4% in 2QFY2018, due to the increase in sales of higher profit yielding development and construction projects in 2Q2018.
- In comparison with 2QFY2017, both marketing and distribution costs as well as administrative expenses reduced noticeably in 2QFY2018. Marketing and distribution costs lowered 46%, from RM775,000 in 2QFY2017 to RM417,000 in 2QFY2018, while administrative expenses shrunk 15%, from RM6.88 million in 2QFY2017 to RM5.84 million in 2QFY2018 due to conscientious cost-cutting efforts.
- For 2QFY2018, the Group retained profitability with RM1.13 million of profit before tax and RM0.43 million in terms of total comprehensive income, making it the 6th consecutive quarter of profitability1 since its disposal of its legacy precision business unit in December 2016.
- Despite challenges such as interest hike and stringent borrowings criteria, the overall Sarawak property market is considered “fairly stable with the All House Price Index growing steadily”2.
For full Q2FY2018 financial results, please click here.
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