KUALA LUMPUR: Condom maker Karex Bhd struggled to maintain its profit in the three-month ended Sept 30 due to Covid-19 restrictions and persistent logistic disruptions.
The company posted a net profit of RM769,000 in the first quarter of its fiscal year compared with a RM4.4mil made a year ago.
Revenue declined to RM96mil from RM101.7mil previously.
"The exceptional measures that governments and health authorities around the world implemented during the COVID-19 pandemic, such as lockdowns, quarantines or reorganising health services drastically impacted the sexual health and medical devices industries," Karex said in a filing today.
The company is hoping that higher vaccination rates and a more relax Covid-19 control measures post-pandemic to boost demand for its products.
"The recommencement of social interactions that have been absent for over a year in many countries is expected to drive the immediate term demand for condoms and lubricants," Karex said.
"This transition is also expected to present unique opportunities arising from greater e-commerce literacy as well as a heightened awareness of personal hygiene and disease prevention," it added.
To capitalise on the new emerging market, the group is expanding its product portfolio in terms of capacity as well as variety to offer products such as medical gloves in the near future.