KUALA LUMPUR: Sasbadi Holdings Bhd’s net profit fell 7.8% to RM3.33mil in the second quarter ended Feb 28 (2Q22) compared with RM3.62mil posted a year ago.

       The publisher recorded revenue of RM23.53mil in 2Q22 against RM24.18mil in the same quarter last year.

       Sasbadi said the lower revenue was due to its print publishing division, which showed a decrease of RM1.027mil, but this was cushioned by the increase in the digital and network marketing division of RM0.328mil.

       It added that the decrease in the contribution from the print publishing division was due to the deferment of the school's new academic year to March 2022, coupled with the long festive season resulting in a delay in book orders as schools were still closed in most part of the current financial quarter.

       In the first six months to Feb 28, Sasbadi’s net profit tumbled 71.7% to RM1.06mil against RM3.76mil a year earlier, while revenue dipped 14.8% to RM32.95mil from RM38.67mil posted last year.

       “Moving forward, our group is confident that the demand for our academic products will be encouraging in the third financial quarter of the financial year ended Aug 31, 2022 (FY22).

       “This is primarily due to the commencement of the 2022 academic year in full force, resulting in an influx of demand for our educational products, such as workbooks and guidebooks, from students, teachers, schools, and retailers nationwide in preparation for the new schooling year. Further to that, our group is capitalising on the market consolidation to increase our market share,” Sasbadi said.

       It added that it would continue to monitor its risk management strategies, including cost reduction measures and liquidity management.

       “All things considered, notwithstanding unforeseen circumstances, our group remains cautiously optimistic of our prospects for FY22 despite these challenging times,” it said.