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apple developer account:NTPM posts higher Q2 profit on lower paper cost

admin2020-12-1981

KUALA LUMPUR: Tissue paper maker NTPM Holdings Bhd said cheaper prices of raw materials, including virgin pulp and waste paper, boosted its profits in the second quarter ended Oct 31. The Group said it is cautiously optimistic about its prospect for the year. NTPM posted a net profit of RM13.7mil during quarter compared with a net loss of RM1.36mil registered a year ago. Revenue slipped to RM188mil from RM194mil previously. The company sales lower demand for paper products from the hospitality industry contributed to the decline in sales. However demand for wet tissue and cotton products improved. The company said the Covid-19 pandemic remained a significant challenge given the uncertainties it has created for businesses and economy. "The Group has taken necessary actions to protect its manpower, sustain its operation and grow its revenue and profitability," it said. "The Group will be proactive in meeting the changing environment and is looking into ways to widen our customer base and expand our distribution channel," it added.NTPM has declared a second interim dividend payout of 0.8 sen a share.
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