Company’s performance for the full financial period supported by newer and more complex die-cutting mould orders

CEKD Berhad (CEKD or the Group, Stock Code: 0238), a die-cutting solutions provider has announced that the Company posted an increase of 7.1% full year revenue to RM28.23 million despite posting a decrease of 16.2% in revenue of RM5.77 million for the fourth quarter ended 31 August 2021 (4Q2021), in comparison with the revenue of RM6.88 million in the corresponding quarter of 2020 mainly due to lower orders from customers affected by the stricter nationwide lockdown from June to August 2021.

Managing Director of CEKD, Ms. Yap Kai Ning

CEKD recorded an increase of 7.4% in full year profit before tax (“PBT”) of RM8.54 million despite registering a PBT of RM1.47 million for 4Q2021, which is 28.7% lower than the PBT of RM2.06 million registered in the same quarter of 2020. CEKD recorded an increase of 4.3% in full year profit after tax (“PAT”) while posting a 30.4% decline in PAT for 4Q2021 of RM1.09 million compared with the PAT of RM1.57 million in the corresponding quarter of last year. The Company, which listed on 29 September 2021 on the ACE Market of Bursa Malaysia, also incurred RM0.61 million for the full-year for initial public offering (“IPO”) expenses.

Managing Director of CEKD, Ms. Yap Kai Ning, said, “We managed to achieve better financial performance for the full year despite the stricter lockdown to curb the spread of COVID-19 affecting a number of industries. This is mainly due to newer and more complex die-cutting moulds orders received from our customers. For the quarter under review, we had fewer orders because many of our customers from industries such as electrical and electronic, automotive as well as textile and leather industries failed to obtain MITI’s approval to operate. Furthermore, customers with MITI’s approval were only allowed to operate at 60% capacity.”

“As we have shared in the details of our recent initial public offering, we are investing in new factories, new machinery and a software upgrade to enhance production capability and efficiency while catering for growth. With the COVID-19 restrictions on capacity lifted and the successful rollout of the vaccination programme, we have returned to full operations and will take the opportunity to visit customers to strengthen relationships and to get updates from them on their needs and market trends.”

“We hope to participate in trade shows and exhibitions with the travel ban lifted to raise our profile both in the domestic and overseas markets and conduct product demonstration sessions for both existing and prospective customers for business development and marketing purposes.”

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