KUALA LUMPUR (May 23): Zantat Holdings Bhd (KL:ZANTAT) posted a net profit of RM1.9 million, on the back of RM28.8 million in revenue, for the first quarter ended March 31, 2024 (1QFY2024), derived from the production of ground calcium carbonate.

In a statement on Thursday, the high-grade calcium carbonate powder producer declared a dividend of RM4.2 million or 1.5 sen per share, to be paid on June 25.

Reviewing its 1QFY2024 performance, Zantat managing director Ivan Chan said the company recognised a net profit of RM1.9 million for the quarter under review after deducting expenses, which were mainly attributed to selling and distribution expenses and administrative expenses.

He said the selling and distribution expenses mainly comprised logistic costs.

Chan said the administrative expenses consisted of directors’ fees and remuneration, staff related costs, professional fees (including initial public offering related expenses), office and upkeep expenses, licensing and certification, insurance, quit rent expenses. travelling and entertainment expenses, training fees, research and development expenses, and other general and administrative expenses.

“Looking ahead, Zantat sees lights in the bioplastic segment and a potential rise in the glove industry, as well as the commercialisation of its bioplastic compound, Earthya.

“This milestone not only shows our commitment to sustainable product solutions, but also aligns with the growing environmental awareness and regulatory landscapes in Malaysia and worldwide,” he said.  

At the midday break on Thursday, Zantat traded unchanged at 50.5 sen, with 6.08 million shares done.