Export sales boosts Power Root Q3 earnings

KUALUMPUR: Power Root Bhd, the maker of Alicafe drinks, said higher sales overseas almost doubled its profits in the third quarter ended Dec 31.

The company, however, said recent sugar tax hike in the Middle East and the Covid-19 outbreak in China are likely to dampen export sales.

"In efforts to mitigate the impact of these issues, we will be focusing our efforts in other countries to reduce our reliance on the affected countries and to introduce products at affordable price points," it said in a filing with Bursa Malaysia today.

Net profit jumped 88% to RM13.08mil compared with RM7mil made a year ago.

Revenue was up 24% to RM101.4mil.

The increased earnings, the company said, was due to improved sales and reversal of impairment loss on trade receivables.

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