Asia File records 25% sales increase in FY22

GEORGE TOWN: Filing products manufacturer Asia File Corp Bhd has recorded an increase in sales by 25 per cent for the financial year (FY) 2022 when compared with the turnover achieved one year ago.

The group ventured into the food ware and consumer ware business in 2018.

Chief financial officer Goh Phaik Ngoh said sales for FY2022 increased by 25 per cent compared to FY2021, while pre-tax profit remains fairly consistent at RM51.5 million due to a lower share of profits from its associate companies during the year.

"The new business segment grew from zero to RM48.7 million in a short period of fewer than five years and our current cash position exceeds RM230 million.

"The group will consider company acquisitions if it results in a synergetic benefit to the overall business operation,” she told Bernama after the group’s annual general meeting here today.

However, Goh said by having manufacturing plants in Europe, including the United Kingdom and Germany, as well as in Malaysia, the group was benefiting from the best of both the East and West.

"The East has cheaper labour and flexibility in sourcing while the West has better technological advances in terms of automation and technology know-how,” she noted.

The group remains as the top files manufacturer in Malaysia with a comprehensive distribution network of more than 650 retailers and office suppliers. - Bernama:

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