Mobilia Holdings posts higher top and bottom line for FYE 2020


‘Mobilia posted a slightly improved bottom line for FY20, despite a challenging operating environment in 2020,’ said Mobilia Holdings Berhad managing director Quek Wee Seng.

MOBILIA Holdings Berhad and its subsidiaries, which are principally involved in the design and manufacturing of home furniture, announced its unaudited financial results for the fourth quarter ended Dec 31,2020 (Q4FY20).

The group posted revenue of RM24.71mil – with profit before tax at RM3.19mil, and profit after tax at RM2.9mil.

This is the first interim financial report on the company’s unaudited condensed consolidated financial results for Q4FY20 announced in compliance with the listing requirements, as such there are no comparative figures for the preceding year’s corresponding quarter.

On a full-year financial review basis, the group registered total revenue of RM76.4mil for the financial year ended Dec 31,2020 (FY20) – a slight increase of 1.08% as compared to RM75.59mil recorded in the preceding financial year ended Dec 31,2019 (FY19).

However, the group managed to register profit after tax for FY20 of RM8.66mil – a slight increase of 2.79% as compared to RM8.42mil correspondingly posted in FY19 despite having captured the listing expenses of RM1.11mil and the effect of temporary production disruption during the movement control period between March 18 and April 30.

“We are pleased to announce that Mobilia posted a slightly improved bottom line for FY20, despite a challenging operating environment in 2020, ” said Mobilia Holdings Berhad managing director Quek Wee Seng.

“The global demand for furniture is expected to remain strong over the longer term. Therefore, proceeds raised via initial public offering will be partially utilised to expand our current manufacturing plant to support our long-term business growth and purchase additional machinery to increase automation in our manufacturing process.

“Actually, we have geared up before MCO with our two blocks of single-storey detached factory buildings and new machinery being fully operational and at a higher production capacity, to tap into the global demand, ” he said.

Mobilia’s listing ceremony will be held on Feb 23,2021, to be officially listed on the ACE Market of Bursa Malaysia Securities Berhad.

To learn more about Mobilia Holdings Berhad, visit www.mobiliainternational.com

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