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apple developer account:Asia File posts 52% growth in Q3 net profit

admin2021-03-1164

KUALA LUMPUR: Stationery and foodwares maker Asia File Corp Bhd reported a surge in quarterly profits on higher contribution from an associate company, while margins improved on better utilisation of resources. The company also said that its marketing strategy through digital platforms contributed to the higher earnings. Net profit in the third quarter ended Jan 31 jumped 52% to RM17.4mil from RM11.4mil made a year ago. Revenue declined to RM69.7mil from RM71.8mil previously. "Operating profit for the quarter has improved by 32% from RM 8.9mil to RM11.7mil as a result of better utilization of resources and re-strategizing of marketing approach on digital platform," Asia File told the stock exchange today. Profit contribution from an associate company rose to RM7.7mil from RM1.7mil previously. Asia File expects the overall business sentiment to remain challenging amidst global uncertainties and sluggish economy. The company said it will continue to "re-invent itself" by tapping into new marketing channels to gain higher market share while also evaluating other business opportunities in order to further strengthen its future financial performance. "With the gradual pick up in sales from its consumer and food ware products, the Group is confident that its future operating result will remain profitable," it said.
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