About Prolexus Berhad
1. Malaysia's apparel industry that making its mark across the world.
2. Business structure mainly as apparels manufacturing, apparels retailing and outdoor advertising.
3. Currently the Group has production area at Malaysia and China which can have total production capacity of 10 million pieces per year.
4. In growing customer list has established well branded names such as Nike, Armour, Fila, Disney, Umbro and others.
Review of PROLEXUS Performance
Revenue for current quarter (RM108.9 million) is higher than corresponding quarter of preceding financial year (RM99.9 million).For profit before tax, also increase up to 20.5% by comparing to corresponding quarter. Gross Profit Margin and Net Profit margin remain stable at the same level, which are 21% and 8%. Basic Earning Per Share drop due to effect of Right Issue.
The Group cash has increased to RM19 million but current assets still decrease around RM 6 million. This was mainly due to decrease of Inventory (RM 12.5 million) and trade receivable (RM 12.5 million)
However, the Group's Current Liabilities also decrease due to reduce of Trade Payable (RM 18 million).
As shown in table,the Group 2nd Quarter has increase revenue by 9% or around RM9 million by comparing with preceding year corresponding quarter. This was mainly was due to Apparel division which raised 10.6% of sales.
The Group still focusing on the Apparel division which generated 98% of the Total Revenue.
For Cumulative Period, the Group total revenue still facing decline due to less turnover from the first quarter for 2017 financial year.
However, the Group has remained stable for the revenue at the current quarter.
Moving forward, due to barring of any economic changes and unforeseen circumstances, the Group expected the following quarter will be challenging due to uncertainties of global economy.
But, the Group is exciting two plants expansion and going to completed in financial year 2018. With new plant operation, it will raise existing production capacity by 30%
However, we still remain optimistic to Prolexus due to stable revenue and strong fundamental from the Group.