PETALING JAYA: Johan Holdings Bhd reported a profit after tax of RM167mil against a revenue of RM50mil for the 18 months ended July 31, 2021.

       The group had changed its financial year end from March 31, hence there are no comparative figures.

       However, the group said it had staged a turnaround from the 12-month period ended Jan 31, when it made a loss of RM17mil.

       The turnaround was mainly led by a RM244mil gain from the disposal of its loss-making subsidiary, Diners Club (Singapore) Pte Ltd (DCS) in July this year.

       “With the deconsolidation of DCS, the group’s balance sheet is substantially strengthened.

       “The group is now virtually debt-free,” it said in a statement yesterday.

       Johan also said that its shareholders’ fund has strengthened to RM246mil, following the completion of a private placement and a rights issue. For the period ended Jan 31, the value was RM61mil.

       “The stronger financial position of the group will provide a sound platform for our future diversification and expansion.

       “The group has a team of professionals looking at opportunities to expand the glove business including other medical, healthcare and pharmaceutical products to complement and expand this business in a holistic manner.

       “Besides, the group is also looking for acquisition opportunities in the area of technology to further broaden its earnings base,” it said.