KUALA LUMPUR (July 1): Instant beverage premix maker Orgabio Holdings Bhd, which is slated to list on the ACE Market on July 5, has announced a quarterly net profit of RM1.38 million on revenue of RM13.48 million.

The group said the earnings for its third quarter ended March 31, 2022 were mainly contributed by the provision of instant beverage premixes manufacturing services to third party brand owners, which recorded a revenue of RM13.34 million.

A total of 62.24% of the revenue contribution came from local sales, while 37.76% were from exports, the group told Bursa Malaysia in a filing on Friday (July 1).

For the nine-month period, Orgabio recorded a cumulative net profit of RM4.085 million on revenue of RM48.33 million.

For future business growth and expansion, the group intends to enhance its manufacturing efficiency and capacity.

This, it said, will expand its export sales, range of product offerings and market presence of the group’s house brands.

“By constructing the new factory located at Semenyih, this will allow the group to optimise the configuration of the existing machinery and new machinery to be purchased in order to enhance the manufacturing workflow and efficiency,” the group added.

Orgabio also said the volatility of the raw material prices due to Covid-19 and the Russia-Ukraine conflict had caused disruptions to the supply of raw materials and impacted manufacturing costs.

Orgabio, which aims to raise RM29.97 million from its initial public offering, saw the shares offered to the public oversubscribed by 50.86 times.