Kingboard Copper Foil net profits jump 179.4% to HK$4.4m

NET profit at Kingboard Copper Foil jumped by 179.4 per cent to HK$4.4 million (S$0.79 million) for the first three months of 2017, when compared to a year ago.

The industrial copper foil maker said in a Friday release that its revenue rose by 12.36 per cent to HK$163.9 million. Earnings per share rose to 0.61 Hong Kong cent, from 0.22 cent in Q1 2016.

Revenue for the current quarter got an injection in the form of the receipt of a HK$30 million licence fee from an ongoing arrangement.

It also managed to sell polyvinyl butyral (PVB) resin for HK$134 million, a basic raw material for the production of PVB film which is used to produce reinforced glass for both the automotive industry and buildings.

Shares of Kingboard Copper Foil closed flat on Friday at S$0.400.