The international stationery company saw its net loss registered at RM10.72 million ($2.92 million/€2.66 million) for the first quarter of 2015, improving from the 1Q2014 figure of RM11.2 million ($3 million/€2.7 million).
The improved figure, reported by The Edge Markets, discounted a RM2.6 million ($0.71 million/€0.64 million) share of losses, borne by its non-controlling interests.
Pelikan said the losses “were mainly attributable to lower margin contribution due to lower sales value in the quarter under review”.
Revenue fell 9.8 percent to RM282 million ($76.9 million/€70 million) from RM312.6 million ($85.3 million/€77.6 million) when compared with the first quarter of 2014, which the manufacturer said was owing to “the group’s main revenue currency i.e. the euro which depreciated by 9.8 percent against the ringgit compared with the previous year’s corresponding quarter”.
Looking ahead, it anticipates that the markets of the main countries where it operates will remain “challenging” as businesses and end-users continue to be “cautious on spending and expansions”, and it will maintains its efforts “to implement strategies within […] product assortments and distribution channels to improve operating margins and reduce operational costs”.