Jadi closes 2018 Sales down, profits up
May 28, 2019
Nine month results to December 2018 show some improvement in margins as the toner market remains challenging.
Sales in the nine months to 31 December 2018 declined 17.7 percent to RM 36.02 million ($8.6 million / €7.69 million) while net profits increased 750 percent to RM3.38 million ($808K / €722K) from RM455K ($108K / €97) in the previous year period ending 31 December 2017.
Sales in China amounted to RM19.653 million ($4.7 million / €4.2 million), while sales in Malaysia were RM13.604 million ($3.25 million / €2.9 million). UK sales were RM2.760 million ($659K / €586K).
Other income in the corresponding period was RM15,207 million ($3.63 million / €3.24 million), up 19 percent.
Jadi is a major player in the laser printer and copier toner aftermarket which is under intense price competition from a surplus of capacity in the market. In August 2018 Jadi announced the sale of their loss making subsidiary Jadi Suzhou for an estimated RM8.89 million ($2.16 million/€1.9 million). The sale was expected to close in Q1 of 2019, but no formal announcement has been made yet. Jadi UK, which was acquired AQC UK in 2016 continues to trade normally.
Full year results to March 2019 are expected to be published in July.
Categories : City News
Tags : Business Financials Jadi
