DAIBOCHI ... Feb10

DAIBOCHI PLASTIC AND PACKAGING INDUSTRY NET PROFIT FOR 4QE DEC 2009 ROSE 166.7% YOY

DAIBOCHI PLASTIC AND PACKAGING INDUSTRY's Net Profit increased by 166.7% to RM6m for 4QE Dec 2009 from RM2.2m same quarter a year ago. This was due to improved operational efficiency, increasedoverseas sales, enhanced customer & product mix and gain on foreign exchange.

Revenue however dipped 3.7% to RM54.5m from RM56.6m same quarter a year ago. Basic EPS increased to 8.04 sen from 2.99 sen.

INTERIM DIVIDEND DECLARED
A tax-exempt interim dividend of 6.5 sen per share was declared. The totaltax-exempt dividend to date is 15.5 sen per share for a total of RM11.6m, which is a payout of more than 51%.

FULL FYE DEC 2009 NET PROFIT SURGES 178%
Net Profit for FYE Dec 2009 surged 178% to RM22.7m from RM8.16m a year earlier, while Revenue increased 2.1% to RM221.7m from RM217.1m.

EPS almost tripled, increasing to 30.05 sen from 10.75 sen.

OUTLOOK
MD, THOMAS LIM said the Company has seen initial success in growing its premium customer base,both locally and regionally.

He said " .... We will undertake a two-pronged strategy going forward, whereby we will not only target new market segments for our flexible packaging in order to diversify our revenue base, but will also continue our research and development activities to create a pipeline of product innovations ...."

The Company will also tap into new market segments such as the healthcare sector.

" .... We believe this strategy will effectively broaden our revenue base, and will go a long way in adding sustenance to our business model ...." said MD, THOMAS LIM.