Power Root profit sees a mighty surge

Power Root said given that coffee typically enjoys inelastic demand, it is also maintaining new product launch plans for the year.

PETALING JAYA: Power Root Bhd’s net profit rose almost 156% to RM12.67mil for its fourth quarter to March 31,2020 due to an overall improvement in sales, strengthening of the US dollar which contributed to higher foreign exchange gain and an one-off impairment on trade receivables provided in the previous year’s corresponding quarter.

Meanwhile, revenue was up 13.57% to RM90.4mil mainly attributable to the overall increase in both local and overseas sales. There was also a four sen dividend for the quarter, which was an improvement from the 2.9 sen paid in the same quarter of the previous year.