SHAH ALAM, Malaysia, June 4 (Bernama) — Kumpulan Perangsang Selangor Berhad’s (“KPS” or “the Company” or “the Group”) (KPS, Bursa: 5843; Bloomberg: KUPS: MK; Reuters: KPSB.KL) recently reported profit attributable to owners of the parent (“PATAMI”) of RM48.5 million for the quarter ended 31 March 2024, a significant increase from the corresponding quarter of the previous year (“Q1 FY2023). The rise was primarily driven by an increase in the operating profit resulting mainly from the gain from the divestment of 50% of its equity stake in Kaiserkorp Corporation Sdn Bhd (“Kaiserkorp”), the parent company of King Koil Manufacturing (“KKMW”) and King Koil Licensing (“KKLC”) in March 2024.
HIGHLIGHTS FOR THE QUARTER ENDED 31 MARCH 2024
Despite the reduced risk of a global recession, the recovery was still uneven across the sectors. Various factors, including geo-political risks, elevated interest rates, and declining household savings, dampen consumer spending, putting pressure on demand for products in various industries as inventories build up. This has led to inconsistent sales volumes and revenue generation for KPS’ manufacturing companies, impacting the Group’s overall revenue growth.
