KUALA LUMPUR: Iconic Worldwide Bhd posted a 42.7% jump in net profit to RM4.68mil in the third quarter ended Dec 31, 2021 (3Q22) against RM3.28 posted a year ago.

       The group’s quarterly revenue showed a 23.03% increase to RM20.88mil from RM16.97mil a year prior.

       Meanwhile for the cumulative 9-month financial period, Iconic Worldwide saw its revenue and net profit increase by 74.88% and 55.86% to RM58.46mil and RM11.81mil respectively, compared to RM33.43mil and RM7.58mil recorded in the last corresponding period in FY21.

       The group said that the higher revenue and contribution margins from the manufacturing segment coupled with higher contributions from the property development segment mainly attributed to the improvements for the current and cumulative financial periods.

       Managing director Datuk Tan Kean Tet, in a statement, said the revenue from the manufacturing segment is currently mainly derived from the sales and distribution of disposable face masks.

       “We expect that the contribution here will improve even more significantly in this quarter ending March 31, 2022 (4Q22) as we have just started running six glove production lines at our newly launched personal protective equipment (PPE) manufacturing facility last December,” he said.

       As for the property development segment, Iconic Worldwide is currently reviewing the prospects of new projects to be launched utilising the available land bank.

       The group is in the midst of planning a new affordable housing project in Alma, Seberang Perai, Penang, which is expected to be launched in Q4 2022.

       The affordable project entails 751 units of affordable homes and 16 units of shop-offices with a gross development value of RM220mil.