KUALA LUMPUR (May 18): DKSH Holdings (Malaysia) Bhd’s net profit for the first quarter ended March 31, 2023 (1QFY2023) grew 30.61% to RM37.03 million from RM28.35 million a year earlier on the back of higher revenue.

Earnings per share increased to 23.49 sen in 1QFY2023 from 17.98 sen in the same quarter last year, according to DKSH in its filing. DKSH is a market expansion services provider — they help brands to expand their market reach in a market.

Quarterly revenue rose 8.18% to RM1.96 billion from RM1.81 billion a year ago, due to higher sales from its consumer goods and other segments on the back of higher festive sales in the quarter under review.

On a quarter-on-quarter (q-o-q) basis, the group’s net profit rose 32.12% from RM28.03 million in 4QFY2022 as revenue increased 10.95% from RM1.78 billion in the immediate preceding quarter.

Moving forward, the group foresees that consumer demand is still largely stable despite inflationary pressure.

“As we navigate through the current climate, we continue to prioritise in gaining new businesses, increasing cost efficiency, managing working capital and continuously monitoring the short-term outlook.

"The group is well positioned to benefit from favourable long-term market, industry, and consolidation trends in the Asia Pacific," it said.

This year marks 100 years of DKSH Holdings' presence in Malaysia. DKSH Holdings is majority owned by Switzerland-based DKSH Holding Ltd.

Shares in DKSH closed up seven sen or 1.43% at RM4.98 on Thursday (May 18), giving the group a market capitalisation of RM785.14 million.