Wellcall Q4 net profit rises 12%


Wellcall group managing director Huang Sha (pic) said that the group remains positive for the current financial year as Malaysia ventures into phase four of the National Recovery Plan with one of the strongest national vaccination rates in the Asean region.

PETALING JAYA: Wellcall Holdings Bhd’s net profit surged 11.6% to RM10.05mil for the fourth quarter ended Sept 30, from RM9mil a year earlier.

Its revenue for the quarter increased more than 27% to RM47.50mil compared to RM37.27mil previously.

In a filing with Bursa Malaysia yesterday, Wellcall attributed the higher bottomline and topline to higher demand volume from existing customers resulted from recovery of the industrial rubber hose market.

“The increase in revenue and profit before tax were mainly attributable to the gradual uplifting of the imposition of movement control order, which enabled the group to fulfill more orders globally,” it said in a statement.

Almost 93% of the group’s revenue came from the export market, while the remaining 7% was from the local market.

It announced a fourth single tier dividend of 2.80 sen per share to be payable on Dec 24.

WellCall HQ IpohWellCall HQ Ipoh

Overall, Wellcall announced a dividend of seven sen per share for the financial year ended Sept 30, 2021, higher than the 4.95 sen per share it announced last year.

Cumulatively, for the full financial year of 2021, Wellcall’s net profit swelled by 16.3% to RM34.16mil from RM29.36mil, on the back of 16% jump in revenue to RM157.02mil from RM134.92mil previously.

The group said it experienced a 19% growth from its export market compared to a 9% decline in the local market this year.

“The overall improvement in revenue was mainly due to the increase in revenue growth from the export market despite continuous slowdown in the local market,” it said.

Wellcall group managing director Huang Sha (pic) said that the group remains positive for the current financial year as Malaysia ventures into phase four of the National Recovery Plan with one of the strongest national vaccination rates in the Asean region.

“All our employees have been fully vaccinated, which enables the group to resume full operations effectively from October 2021.

“We are well positioned to tap into the global market given that we are highly trusted in our product quality consistency and resilience during the pandemic,” he said in a statement yesterday.

He added that sustainability has always been the heart of Wellcall and the company plans to ensure that this remains the key priority of the company moving forward.

“We have also been proactive in providing more jobs to locals to support our production line and meet delivery orders.” said Huang.

Since 2006, it has maintained a consistent track record of dividend payment and have paid out more than RM300mil of dividends till date.

“We remain dedicated to create long term value for our stakeholders and sustain this consistent track record of dividend payout, even during the Covid-19 pandemic.”

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