Pelikan’s Net Loss Narrows 4.3% in 1QFY15

Pelikan International Corp Bhd said its net loss narrowed 4.3% to RM10.72 million (US$2.93 million) for the first quarter ended on March 31, 2015 (1QFY15) compared to RM11.2 million (US$3.06 million) YOY, after it excluded a RM2.6 million (US$0.71 million) share of losses which were borne by its non-controlling interests. Revenue fell 9.8% to RM282 million (US$77.01 million) from RM312.6 million (US$83.4 million) in 1QFY15, reported theedgemarkets.com

Pelikan explained the net losses were mainly results from lower margin contribution caused by lower sales value in the quarter.

“The decrease was mainly contributed by the group’s main revenue currency—i.e., the euro—which depreciated by 9.8% YOY,” said Pelikan.

The company further noted that markets in its key operating countries will continue to be challenging as consumers and business remain cautious on spending and expansions. To improve operating margins and reduce operational costs, Pelikan claimed it will stick to its strategies on its product variety and distribution channels.

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