Dominant optimistic of local sales growth

KUALA LUMPUR (Sept 18): Dominant Enterprise Bhd has identified two main strategies to increase local sales, namely offering more value-added services and increasing marketing efforts.

Dominant, whose clients come from the furniture and building-related sectors, believes that the domestic market holds much potential for growth.

"Sales from our domestic market grew 8.8% to RM306.5 million year-on-year making us one of the leading players in the RM1 billion laminated wood market," said deputy managing director Danny Owee in a statement on Tuesday.

"We intend to leverage further on our strong position in Malaysia, by providing more value-added services to customers.

"These include providing advice to our clients on product applications, as well as reducing the delivery time via our comprehensive distribution network nationwide," he said.

The Malaysia Furniture Entrepreneur Association has reported that Malaysia's furniture exports amounted to RM3.9 billion in the first half of 2012, a 10% increase from RM3.5 billion recorded previously.

Owee said Dominant posted top line growth of 18.7% to RM101.9 million for the first quarter ended June 30, 2012, versus RM85.8 million previously.

At the company's 20th annual general meeting on Tuesday, shareholders approved the final single-tier dividend for the year of one sen per share in respect of financial year 2012, bringing financial year 2012's total dividends to seven sen per share.

The financial year 2012 dividend payout would amount to RM9.0 million or 50.9% of group net profits. — Bernama