Zhulian 3Q earnings rise due to Myanmar market

Zhulian Corp Bhd more than doubled its net profit in the third quarter this year (3Q17) due to improved margins, higher turnover and lower expenses incurred for the quarter ended Aug 31.

The Penang-based costume jewellery maker’s net profit jumped to RM14.58 million for the period from RM6.11 million posted in 3Q16 as revenue improved by 13.1% year-onyear to RM49.78 million.

In an exchange filing yesterday, Zhulian noted the higher revenue was driven by an increase in export revenue to Myanmar, which helped offset the drop in local demand.

The company added that it will look to enter the untapped markets of Cambodia and Laos, as well as undertake rationalisation exercises and revive the weak domestic market. Management will also focus on cost and operational efficiencies amid a challenging operating environment.