Aluminium packaging manufacturer aims for better performance in current financial year

Bright Packaging Industry Bhd, an aluminium foil packaging materials manufacturer, aims to record a better performance in its current financial year ending August 31, 2014 as compared to the previous year.

Executive Chairman Nik Mustapha Muhamad said the target would be well-supported by the improving economic environment and the company's market diversification.

"2014 is going to be a very good year compared to the previous one (which saw) our profit increase to almost double.

"We are heading to a better year because we are able to diversify our market," he said today.

However, he declined to elaborate.

For the fourth quarter ended August 31, 2013, Bright Packaging's pre-tax profit rose to RM2.08 million from RM1.75 million in the same quarter in 2012.

Revenue increased to RM20.8 million from RM13.46 million previously due to an increase in local customers' order for liquor and confectioneries.

For financial year ended Aug 31, 2013, the company's pre-tax profit surged to RM7.03 million from RM4.68 million achieved in 2012, while revenue slipped to RM52.22 million from RM56.07 million.

On the changes in the company, Nik Mustapha said: "Nothing has changed except for certain board members... shareholders have not changed and the management.

"There is a storm in the tea cup but everything is okay. The company is going further because all the experts are still here within the company," he said.

He also said there was no plan to privatise the company in future.

Bright Packaging is a market leader in the fast-moving consumer goods packaging industry with core activities in manufacturing aluminium foil packaging materials and its services include lamination, coating, slitting and sheeting.

The company supplies packaging products to Philip Morris, Unilever, Procter and Gamble, Diageo and British American Tobacco. – Bernama, February 24, 2014.