Significant growth for Pecca in 2022

Malaysia
Published:  31 August, 2022
Credit: Pecca Group

Automotive leather seat manufacturer Pecca Group has reported its fourth quarter and full year financial results.

The company reported revenue of RM50.75 million (US$11.34 million) for the quarter, up 71.22% from the same period in the previous year.

Profit for the quarter was RM8.25 million (US$1.84 million), up from just RM24,000 (US$5,363) in the prior year period.

Revenue for the full financial year was RM164.39 million (US$36.73 million), up 13.6% year-on-year. Profit for the full year was RM22.84 million (US$5.1 million), up 18.84% year-on-year.

Revenue was driven by leather upholstery, which contributed 83% of the total revenue for the quarter, while leather cut pieces supply made up 7% of the total.

In its statement, Pecca noted that the Malaysian economy is in a period of growth with economic recovery reflected in the automotive sector. Newly registered vehicles in the country were up by 33% year-on-year in the first half of 2022 to 331,386 units.

At time of writing, US$1 = RM4.48 (Malaysia Ringgit).