Main Board BP Plastics Reports Third Quarter 2008 Revenues Up 11.5% Over Preceding Year Quarter
Kuala Lumpur, 24 November 2008 – Main Board listed BP Plastics Holding Bhd (BPPLAS) announced today that the company achieved an increase in revenue with unaudited revenue of RM67.323 for the third quarter (3Q) of 2008, an increase of 11.5% compare to the same period last year. However, Profit before Tax and Profit after tax fell 31.7% and 38.7% respectively for the 3Q compare to the same period last year caused by RM1.805 million write down of stock inventory due to plunging polymer resin price.
Overall, the group total cumulative 3Q revenue ended September 2008 still improved by 32% and profit after tax also improved by 25.7% comparing to cumulative 3 quarter results in 2007.
In view of the current economic standing, the company is taking cautious measures including constant review of stock and inventory while minimize all costs and re-strategize for new direction in 2009.
For more information, please log on to www.bursamalaysia.com
ABOUT BP Plastics Holding Bhd
Established in 1990, BP Plastics Holding Bhd (BPPLAS) is today one of the leading producers of polyethylene film, specialize on stretch film and meticulous made to order lamination, shrink film and general purpose plastic bags cater for industrial, commercial, logistic and warehousing usage.
BPPLAS was listed on the Main Board of Bursa Malaysia Securities Berhad in 23rd February 2005 and currently operates more than 80 units of manufacturing machineries with a combined workforce of approximately 350 staffs. The company’s two production plants are located in Sri Gading Industrial Estate, Batu Pahat, Johor, Malaysia occupy 9 factory blocks with the total built up areas of more than 250,000 square feet on a total combined land of 15.5 acres has a combined annual capacity of 60,000 metric tonnes.
The company has evolved from a cottage plastic bag manufacturer back in 1990 to be a modernized high-tech polyethylene film manufacturer by investing into state of the art machineries and equipments from Europe and the United States.
BPPLAS aims are to grow their geographical market, increase production capacity and operation base, expand their line of services and continually be in the forefront of technology advancement – so that their customers and shareholders will receive the best they can offer.
For more information, please visit http://www.bpplas.com.
The past performance of BPPLAS is not indicative of the future performance of BPPLAS. This document may contain forward-looking statements that involve risk and uncertainties.
Actual future results may vary materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the company’s current view of future events.
For more information, please contact:
BP Plastics Holding Bhd
Kelly Tan/ Lee Kuan Hock
Esente Communications Sdn Bhd