ORNA 5065 Share Price

The group profit before tax recorded a decrease from RM 11.545 million in 2021 to RM 5.964 million in 2022 due to the explanations aforementioned amid the challenging and volatile global market conditions filled with innumerable uncertainties as a result of the supply chain disruptions, the Ukraine war, the trade war between the major powerhouses, energy crisis, inflationary issue, pandemic, as well as the weak consumer sentiments during 2022. Moving ahead, the Group is acting proactively and prudently to preserve its position as one of the market leaders in the corrugated boards and carton boxes manufacturing industry in Malaysia and is expecting to maintain reasonable performance as compared to comparable industry peers in Malaysia during the year as well as in years to come, with counter measures implemented in response to the triple headwinds.

The Group’s revenue decreased by 3.69% to RM80.83 million compared to RM83.92 million recorded in the immediate preceding quarter mainly due to lower sales volume and lower average selling price. The Group registered a lower profit before tax of RM0.60 million compared to a profit before tax of RM1.70 million registered in the immediate preceeding quarter due to impairment loss on financial assets of RM300,000 and impairment loss on property, plant and equipment of RM748,000 incurred during the reporting quarter.

The Group’s revenue decreased by 8.12% to RM87.79 million compared to RM95.54 million recorded in the immediate preceding quarter mainly due to lower sales volume. The decreased in revenue has caused the Group registered a lower profit before tax of RM2.87 million compared to a profit before tax of RM4.54 million reported in the immediate preceeding quarter

The Group’s revenue decreased by 10.28% to RM85.40 million compared to RM95.18 million recorded in the preceding quarter mainly due to lower sales volume generated in the current quarter under review. In line with the decrease in revenue, profit before tax decreased from RM8.70 million to RM4.35 million.

The Group’s revenue decreased by 10.45% to RM63.38 million compared to RM70.78 million recorded in the preceding quarter. The decrease in revenue was mainly due to the imposition of MCO, CMCO and RMCO resulted from the Covid-19 pandemic where economic activities were placed under strict Standard Operating Procedure which resulted in fewer deliveries to customers during the period under review.

The key factors affect the group’s performance include mainly raw material costs (such as kraft liner, test liner, medium paper and etc), operationg cost, demand for the packaging products and the ability to cope with the change. The Group’s revenue decreased by 22.14% to RM70.78 million compared to RM90.91 million in the preceding quarter. In-line with the decrease in revenue, profit before tax decreased from RM7.04 million to RM 2.54 million.