Ajiya sees tough quarters ahead amid shortage of raw materials 


KUALA LUMPUR: Construction products supplier Ajiya Bhd's net profit doubled in the first quarter, but warned that its prospect for rest of the year is challenging due to the shortage of raw materials.

Net profit in the three-month ended Feb 28 climbed to RM6.48mil compared with RM3.1mil made a year ago.

Revenue declined to RM73.6mil from RM77.5 on weaker demand, Ajiya said in a filing with Bursa Malaysia today.

"As Malaysia is set for recovery from the Covid 19 pandemic and the gradual return to normalization and better business sentiments, the Group will intensely monitor and strive to increase the market share for its products," it said.

"Nonetheless, the shortage and delay in raw materials supplies will post a challenge to the Group for the coming quarters," it added.

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