PETALING JAYA: DPI Holdings Bhd’s net profit for its second quarter ended Nov 30,2020, rose to RM3.26mil from RM2.39mil in the previous corresponding period, mainly due to higher revenue from its aerosol and solvents and thinners divisions.
“Revenue from aerosol products had increased by RM4mil, or approximately 41.5% to RM13.7mil. This was mainly attributable to the increase in sales orders from new and existing customers.
“Revenue from solvents and thinners has remained constant or approximately RM2.3mil.”
Revenue in the second quarter increased to RM15.96mil from RM11.99mil a year earlier.
For the six-month period ended Nov 30,2020, DPI Holdings’ net profit grew to RM6.54mil from RM4.03mil in the previous corresponding quarter, while revenue was also higher at RM31.51mil compared with RM23.14mil a year earlier.
Commenting on its prospects, DPI said it had seen an increase in sales orders from existing and new customers following the reopening of the local economy in May last year.
In a separate filing, DPI said it intends to extend the timeframe for the utilisation of proceeds raised from its initial public offering exercise.
The company is proposing that it be allowed additional time until Jan 24.
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