KUALA LUMPUR: PCCS Group Bhd's net profit rose 241.83 per cent to RM5.65 million in the second quarter (Q2) ended September 30, 2022 from RM1.65 million a year ago.

The company's revenue, however, edged up a marginal 1.24 per cent increase to RM104.06 million from RM102.79 million in the corresponding quarter in 2021.

PCCS said Q2 was typically a quiet quarter for the group, but this time, it had shown better results due to a foreign exchange gain of RM4.43 million. This was attributed to the stonger US dollar against the ringgit.

For the cumulative six months, the company said its net profit soared to RM22.84 million from RM3.27 million, while revenue rose to RM273.36 million from RM202.29 million previously.

The higher profit is partly due to the extraordinary gain of RM6.9 million from the  disposal of subsidiaries Mega Label (Malaysia) Sdn Bhd and Mega Label (Penang) Sdn Bhd in its first quarter.

Minusing these exceptional items, PCCS said it still recorded impressive core net profits of RM8.4 million for the first quarter to June 30, 2022.

PCCS group managing director David Chan Wee Kiang said the company expected the manufacturing and supply chain hiccups to be more manageable this round.

The company will leverage on its operational efficiencies and cost savings initiatives to achieve better performance.

"Moving forward, the company continues to see a lot of traction and opportunities in the athletic apparels segment.  We have been moving up the value chain and are already developing high tech athlete wear for Li Ning, Puma and Decathlon to name a few.

"With our strong track record and financial position, we are on the lookout to acquire apparel related businesses or to work with a big established brand,"Chan said.