KUALA LUMPUR (Aug 21): Wellcall Holdings Bhd's net profit jumped 64.84% to RM17.65 million for the third quarter ended June 30, 2023 (3QFY2023), from RM10.78 million a year ago, as revenue grew on the back of continued strong demand  for industrial rubber hose.

Earnings per share increased to 3.57 sen from 2.16 sen, the group's bourse filing showed.

Quarterly revenue rose 19.14% to RM56.15 million from RM47.13 million in 3QFY2022 on increased demand in both local and export markets.

"The export market and local market contributed approximately 91% and 9% respectively to the group's revenue," added Wellcall.

The Perak-based rubber hoses maker declared a third interim dividend of 2.2 sen per share, payable on Sept 21. This brings the total dividend so far in FY2023 to 5.4 sen per share, compared with 4.4 sen previously.

For the cumulative nine-month period, net profit rose 50.64% to RM38.64 million, from RM25.65 million in the previous corresponding period, as revenue increased 22.45% to RM158.89 million from RM129.76 million. 

Wellcall said the high demand for low- and medium-pressure industrial rubber hose has enabled the group to sustain and widen its market base positioning.

Hence, the board is keeping a positive view of the performance for FY2023 with the continuation of gradual increase in the momentum of global demand for industrial rubber hoses.

Shares in Wellcall closed two sen or 1.61% higher to RM1.26 on Monday, giving the group a market capitalisation of RM627 million.