Signature International feeling good about ‘large’ orderbook

SIGNATURE International Bhd is confident about returning strong financial numbers for the present financial year based on its “large” orderbook at hand.

For the first quarter ended March 3, 2024 (1Q24), the kitchen cabinet manufacturer saw its net profit more than doubled to RM5.3 million from RM2.2 million on a turnover of RM150.5 million, which was up 70% from 1Q23.

“We are optimistic that the group’s revenue and profit will improve in the next financial year based on the large number of orderbook on hand,” it said in an exchange filing today.

As at 31 March 2024, it said its orderbook stood at RM218 million for kitchen and wardrobe system (Signature brand), RM538 million for kitchen and wardrobe system (Corten brand) and RM480 million for interior fit-out works.

At 4.40pm today, Signature International shares were trading at RM1.54, one sen lower than the 52-week high recorded the day before at RM1.55, valuing the company at RM988 million.

Aside from kitchen cabinet manufacturing, Signature International also has businesses in retail, project, imported appliances, glass and aluminium. — TMR