Sapura Industrial says the TIV is projected to rise by 24% year-on-year to 630,000 vehicles in 2022 from 508,911 in 2021.
PETALING JAYA: Sapura Industrial Bhd
is banking on the expected rise in the total industry volume (TIV) of the automotive industry and its cost optimisation measures to buoy earnings.
In a filing with Bursa Malaysia, the original equipment manufacturer automotive parts manufacturer said TIV is projected to rise by 24% year-on-year (y-o-y) to 630,000 vehicles in 2022 from 508,911 in 2021.
Sapura Industrial added it has intensified efforts to bolster operational efficiency by implementing strict cost-cutting measures.
For the third quarter ended Oct 31, 2022 (3Q22), its revenue surged by 78.3% y-o-y to RM71mil from RM39.6mil in 3Q21 due to higher volume. Net profit for the period stood at RM2.6mil, a reversal from the net loss of RM2.7mil in 3Q21.
