Degem Berhad announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of MYR 53,281,000 against MYR 55,961,000 a year ago. Profit before tax was MYR 9,414,000 against MYR 4,423,000 a year ago. Profit attributable to owners of the company was MYR 8,167,000 or 6.30 sen basic per share against MYR 3,115,000 or 2.38 sen basic per share a year ago. The decrease in revenue of 4.8% was mainly due lower sales volume from the retail segment. The improvement in PBT mainly due to substantial gain from foreign exchange arising from inter company balances.

For the full year, the company reported revenue of MYR 192,437,000 against MYR 186,676,000 a year ago. Profit before tax was MYR 21,429,000 against MYR 14,687,000 a year ago. Profit attributable to owners of the company was MYR 17,188,000 or 13.14 sen basic per share against MYR 10,211,000 or 7.80 sen basic per share a year ago. Net cash from operating activities was MYR 15,746,000 against MYR 8,676,000 a year ago. Acquisition of property, plant and equipment was MYR 3,898,000 against MYR 2,092,000 a year ago. The increase in both revenue and PBT of 3.1% and 45.6% were attributed to higher revenue achieved from retail segment and substantial gain from foreign exchange arising from inter company balances.

For the quarter, the company reported property, plant and equipment written off of MYR 204,000 against MYR 531,000 a year ago.