RGT to speed up expansion as Q2 profit soars on strong export


KUALA LUMPUR: RGT Bhd, an exporter of hygiene and air care products, said strong demand for its soaps and sanitizers boosted its revenue and profits in the second quarter ended Dec 31.

In anticipation of stronger orderbooks, work to double its production capacity has started since in September.

"Progress has been rapid and the earlier targeted completion of the new facility by the end of this calendar year could be brought forward with an earlier completion, possibility by October, 2021," the company said in a statement today.

In December 2020, RGT placed out 40 million new shares to raise RM23mil to part fund the ongoing expansion.

The expansion work came as three-month ended Dec 31 net profit rose to RM4mil from RM1mil a year ago.

Revenue was almost tripled to RM45.36mil from RM17mil previously.

RGT said that its revenue growth was tempered by weaker US dollar.

"As RGT exports all its hygiene care products, the softer US dollar was estimated to have dampened 2Q FY2021 revenue by approximately 3%," it said.

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RGT , hygiene , exports

   

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