XiDeLang profit declines on lower sales

PETALING JAYA: Xidelang Holdings Ltd’s net profit for its fourth quarter ended Dec 31, 2014, declined 80.1% to RM3.78mil from RM19mil a year earlier, on lower sales of its range of house-brand sports apparels and accessories.

Its earnings per share for the fourth quarter 2014 fell to 33 sen from 2.09 sen a year earlier.

In a filing with Bursa Malaysia, the company said it was impacted by global economic uncertainties, which shook its revenue from original equipment manufacturer orders during the quarter in review and the full financial year 2014 (FY14).

XiDeLang said the decline was volume driven with volume sold in the current quarter and financial year in review lowered to about 600,000 pairs and 2.3 million pairs, respectively.

For the full FY14, the company posted a net profit of RM28.21mil on revenue of RM301.54mil, which dipped 18% from RM367.62mil previously.

“The group is cautiously optimistic that consumer demand will remain healthy next year,” it said.

XiDeLang’s net profit declines on lower sales