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KUALA LUMPUR: Beverage maker Power Root Bhd has inked a co-investment agreement with SAPPE Holding Thailand Company Ltd to tap into the Malaysia-Thailand beverage market.
Higher sales in local and export markets boosted Power Root Bhd’s net profit by 87.14% to RM11.28 million in the third quarter ended Dec 31, 2022 (3QFY2022) from RM6.03 million a year earlier. Quarterly revenue rose 11.65% year-on-year to RM106.68 million from RM95.55 million before. As a result, earnings per share improved to 2.7 sen from 1.4 sen before, the instant and canned beverage manufacturer’s filing with Bursa Malaysia showed.
THE recovery theme was well in play even before Malaysia began its transition to the endemic phase of Covid-19 on April 1 because markets traditionally move ahead of the economy and financial results by at least six months. Some stocks began to rally in the early part of the year as investors anticipated that they would benefit from the reopening of borders. While some companies have continued to gain after the reopening of all economic sectors, profit-taking has had an effect on some stocks despite turning in a better financial performance year on year.
KUALA LUMPUR: There could be some investor interest in stocks with recent corporate announcements including AirAsia X, Supermax, Sime Darby Plantations, TM, Hibiscus Petroleum, Guan Chong, SunCon, Power Root, Boustead Plantations and Pavilion REIT, said Apex Research.
PETALING JAYA: Malaysia’s consumer sector could face a more challenging year ahead in 2023.