Kingboard Copper Foil Q1 net profit more than doubles to HK$6 million

KINGBOARD Copper Foil Holdings's first-quarter net profit more than doubled to HK$6 million (S$1 million) as revenue rose 41.7 per cent to HK$164.5 million, the industrial copper foil maker announced on Wednesday.

On a per-share basis, net profit was 0.83 HK cents for the three months ended March 31, 2015. Kingboard Copper Foil shares closed at 14.5 Singapore cents on Wednesday before the results were announced.

Kingboard Copper Foil said that licence fees contributed HK$30 million of turnover during the quarter. That licensing agreement will run out at the end of August 2015.

The sale of resin that is used to make glass reinforcement film contributed HK$134 million of sales. Kingboard Copper Foil said that it will be upgrading its production capabilities and product mix in anticipation of higher demand for the resin.

Distribution costs rose 44 per cent to about HK$4.3 million due to larger sales volumes.