Ajiya posts 10% fall in 4Q net profit, says outlook remains challenging
KUALA LUMPUR (Jan 20): Safety glass and metal roofing maker Ajiya Bhd’s fourth quarter net profit fell 10.45% to RM1.6 million or 0.54 sen per share, from RM1.79 million or 0.6 sen per share a year earlier, on the back of lower revenue.
Revenue for the quarter ended Nov 30, 2019 (4QFY19) decreased 10.86% to RM81.73 million from RM91.69 million, mainly due to lower demand for the group’s products, the group said in a filing with Bursa Malaysia.
For the full financial year (FY19), Ajiya’s net profit plunged 77.31% to RM5.58 million from RM24.59 million in the previous year. Revenue fell 14.81% to RM325.62 million from RM382.62 million.……
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