|Company cautiously optimistic of outlook for the remainder of 2021|
BUTTERWORTH, Malaysia, May 20, 2021 - (ACN Newswire) - Volcano Berhad ("VOLCANO", Stock Code: 0232), a leading manufacturer of parts and components including metal and non-metal nameplates and plastic injection moulded parts, is pleased to announce the Company's first interim financial statement for the financial year ending 31 December 2021 following its listing on the ACE Market of Bursa Malaysia Securities Berhad.
|Volcano Berhad Managing Director, Datuk Ch'ng Huat Seng|
For the first quarter that ended on 31 March 2021, the Company registered revenue of RM17.66 million, profit before tax ("PBT") of RM2.0 million and profit after tax ("PAT") of RM1.41 million. There are no comparative figures available for revenue, PBT and PAT for the same quarter of the preceding year and year-to-date as this is Volcano's first interim financial statement following its listing on 6 April 2021.
For the quarter under review, the Company's nameplates segment contributed RM10.86 million to revenue while the plastic injection moulded parts segment contributed RM6.80 million to revenue.
Managing Director of Volcano, Datuk Ch'ng Huat Seng said, "We are cautiously optimistic about our prospects for the rest of the year based on demand from customers in the electrical and electronics ("E&E") industry. We believe that our financial performance should remain favourable for the rest of the year barring any unforeseen circumstances."
"Our expansion plans for the factory in Rayong, Thailand remains in place as we see lots of potential in the country's E&E and automotive industries. We have already allocated RM5 million each year over the next three years for capital expenditure involving these plans."
The Company derives more than 95% of revenue from overseas markets, with the principal markets being customers based in Singapore and Thailand. Besides the E&E industry, Volcano also serves customers from the automotive and aerospace industries.
Please contact the below for more information:
Tel: +60 12-318 5410
Topic: Press release summary
Source: Volcano Berhad
Sectors: Daily Finance, Engineering
From the Asia Corporate News Network
Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.