Koda Ltd website

Shares of furniture maker jumped as much as 17 percent after the Singapore-based Koda said it expects fiscal 2017 net profit to exceed that from a year earlier.

Net profit for financial year 2017 is expected to exceed that of financial year 2016, it said in a statement on Monday.

Koda has streamlined its operations since the 2008 global financial crisis by consolidating production facilities in Vietnam, relocating factories out of China, among others.

The company reported a net profit of US$1.6 million for the financial year ended June 30, 2016, reversing losses in the previous two financial years.

Gross profit margin rose to 27.7 percent in fiscal 2016 from 23.6 percent a year earlier, it said.

"While the Group is mindful of the recent political developments in the U.S., the improving outlook on job creation and housing recovery is expected to sustain sales there, " Koda said.

Koda gets more than 30 percent of its revenue from the United States.

The company, which has manufacturing operations in Vietnam and Malaysia, will declare a final dividend for fiscal 2017 in addition to the interim dividend of 0.50 Singapore cent per share.

Koda shares were up 16.3 percent to S$1.105 at 0450 GMT on the Singapore Exchange.