PETALING JAYA: Homeritz Corp Bhd saw its net profit increase 15.9% to RM8.47mil in the first quarter of its financial year ending Aug 31, 2021 from RM7.3mil in the previous corresponding period on the strengthening of US dollar and higher revenue.

       The furniture maker’s revenue rose 11.4% to RM58.54mil during the quarter in review from RM52.54mil previously on progressive increases in the selling prices of certain products as well as stronger greenback.

       The group said the impact of rising raw materials costs was cushioned by the increase in the selling price of its product and the strengthening of US dollar.

       Homeritz noted that it was currently operating in global economic uncertainties as well as facing increases in production costs, fluctuation in foreign exchange rates and the Covid-19 pandemic.

       It said it would continue to remain focused on its core business of design, manufacture and sale of upholstered home furniture, which includes upholstered sofas, upholstered dining chairs and upholstered bed frames.

       It said it would continue to enhance efforts on developing new products, coming up with new design for existing products and deriving better cost efficiencies and effective cost management across all functions.

       The group expects to remain profitable in the financial year 2022.

       Homeritz’s shares closed half a sen higher at 58.5 sen yesterday.