Shah Alam-based PCCS Group Bhd recorded a net profit of RM1.7 million for the third quarter ended Dec 31, 2023 (3Q23) compared to a net loss of RM6.4 million in the same period last year, partly as it recognised RM2.0 million in deferred tax assets as well as lower operating costs due to effective cost management.
The apparel manufacturer and labelling printer achieve a revenue of RM85.1 million in the 3Q23, up 27% from the same period last year.
In an exchange filing on Feb 16, it said the revenue boost came from its apparel division.
For the first nine months, PCCS posted a net loss of RM160,000 on RM267.5 million in revenue compared to a net profit of RM16.4 million on RM340.5 million in the same period in 2022.
The revenue was higher in 2022 as it included a gain of RM6.2 million from divesting subsidiaries Mega Label (Malaysia) Sdn Bhd and Mega Label (Penang) Sdn Bhd.
PCCS shares closed at 36 sen on Jan 16, its 52-week low, valuing the company at RM80 million.