Samurai 2K Aerosol issues profit guidance

SAMURAI 2K Aerosol said that it expects to report a significantly higher revenue and profit for first half of the financial year 2018 on the back of stronger demand for its aerosol paint products versus the previous corresponding period a year ago.

The improved results over the period was mainly due to the increase in sales volume of its aerosol paint products, said the company in a profit guidance statement filed to the Singapore Exchange.

"Through the enhanced marketing initiatives, the company has built a strong foundation of end-user engagement and educated the consumers to enhance the aesthetic finishing of their two-wheelers," it said.

"This strategy has helped the group achieve stronger revenue, especially in the Indonesian market as compared to H1 2017."

Samurai 2K Aerosol added that it was still in the process of finalising the unaudited financial results for first-half period, and will provide further details when it releases its financial results on or before Nov 14.

The counter gained 0.5 Singapore cent or 0.5 per cent to close at 96.5 Singapore cents on Tuesday.