Pecca Group reports 141% jump in revenue for Q1 2023

Malaysia
Published:  25 November, 2022
Credit: Pecca Group

Automotive leather seat manufacturer Pecca Group has reported its financial results for the first quarter of the 2023 fiscal year, with revenue up by 141%.

The company achieved a revenue result of RM54.86 million (US$12.24 million) in the first quarter of the new financial year.

The gross profit result for the period was RM15.86 million (US$3.54 million), up by 251% from a result of RM4.52 million (US$1.01 million) in the same period of 2022.

Pecca’s revenue result for car seat covers in the first quarter was RM44.59 million (US$9.95 million), up from just RM13.28 million (US$2.96 million) in Q1 2022. Revenue from leather cut pieces supply came in at RM4.58 million (US$1.02 million), up by 161%.

Speaking on its automotive results, Pecca said: “The Group will continue strengthen its current original equipment manufacturer (OEM) business and prepare to capture additional orders for new models with existing customers including Perodua, Nissan, Proton, Mitsubishi, Toyota and others.”

The company plans to enlarge OEM sales through the localisation of luxury brands, while also aiming to increase its revenue contribution from its replacement and maintenance business from 10% to 20%.

At time of writing, US$1 = RM4.48 (Malaysian ringgit).