Distribution costs for the quarter grew 12% to HK$4.3 million from $3.8 million previously, which was in line with higher turnover.
Administrative expenses also increased by 33% to HK$5.9 million from HK$4.4 million a year ago due to professional fees incurred from the group’s voluntary unconditional cash offer rolled out in March this year.
As at March 31, net current assets and current ratio were approximately HK$2,253 million and 19.6 respectively.
In a Friday filing to the SGX, Kingboard Copper Foil says it will continue to improve the production efficiency in its PVB business to reduce the defect rate, lower production costs and shorten the lead time so as to deliver greater returns to shareholders.
Despite noting low economic growth in China, the group says it has successfully ventured into India as one of the emerging markets (Ems) with “great opportunities and potential” in the PVB market.
Shares of Kingboard Copper Foil closed flat at 40 cents on Friday.
