Wellcall declares interim and special dividends following strong Q4

WELLCALL Holdings Bhd declared a fourth interim dividend of 1.8 sen per share and a special dividend of one sen per share for the financial year ending September 30, 2023.

It told the bourse today that both dividends are payable on December 21.

The announcement coincided with the release of the company’s fourth quarter (4Q23) results, revealing a 136.2% surge in net profit to RM17.87 million due to a revenue boost.

Quarterly revenue rose by 24.1% to RM58.27 million, driven by continuous efforts to strengthen global sales growth for industrial rubber hose.

The strong quarterly performance contributed to a full-year net profit of RM56.51 million, up 69.7% from FY2022.

Wellcall expressed optimism in remaining resilient amid global economic challenges and outlined plans to manage supply chain challenges, rightsize operations, and enhance operational efficiency.

Wellcall’s shares ended 9.93% higher at RM1.66 apiece today, with a market capitalisation of RM826.59 million. – TMR