BP Plastics Holdings Bhd ... Sept 2008

Financial Results …

The company posted revenue of RM60.4mil for the second quarter (Q2) ended June 30, up from RM46.7mil in the same quarter last year. Its net profit rose to RM3.2mil in the quarter from RM2.4mil a year earlier.

The higher operating revenue and profit achieved were mainly due to higher sales performance and better production efficiency achieved in the first half of 2008.

Going Forward …

It would continue to focus on exporting stretch films and other polyethylene products, such as shrink and lamination film, to food-related packaging industries that were recession-proof as well as other industries with fast growing packaging demand.

BP Plastics Holding Bhd plans to focus more on producing high quality metallocene-based polyethylene film that is thinner and cost competitive to meet the demand of the plastic packaging industry.

Packaging firms were now demanding the thinner and cheaper type of plastic bags and packaging films to cope with rising costs.