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Quarterly Report For The Financial Period Ended 31 December 2023

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Condensed Consolidated Statement Of Profit or Loss and Other Comprehensive Income For The Second Quarter Ended 31 December 2023

(The figures have not been audited)

Comprehensive Income

Condensed Consolidated Statement Of Financial Position As At 31 December 2023

Financial Position

Performance Review

Performance Review
  1. Current Quarter vs Preceding Year Comparative Quarter

    The Group recorded revenue of RM12.63 million and profit before tax (PBT) of RM2.63 million for the current quarter ended 31 December 2023 compared to revenue of RM12.65 million and PBT of RM2.31 million in the preceding year comparative quarter, representing decrease in revenue of 0.2% and increase in PBT of 14%. The higher PBT for the current quarter was due to higher interest income recorded and higher contribution from associates.

    The bedding operation in Malaysia recorded revenue increase from consumer sales of RM0.04 million or 0.3% to RM12.09 million for current quarter as compared to RM12.06 million in the preceding year comparative quarter. PBT of RM0.90 million for current quarter compared to RM1.42 million in the preceding year comparative quarter represents a decrease of RM0.52 million or 37% due to higher sales mix of lower gross profit margin products and higher logistic costs incurred for the current quarter.

    Associates in China contributed higher profit of RM0.73 million for the current quarter compared to RM0.58 million in the preceding year comparative quarter mainly due to better operating margin in the current quarter.

  2. Current Period vs Preceding Year Comparative Period

    The Group registered higher revenue of RM24.73 million for the current period compared to RM23.94 million registered in the preceding year comparative period and higher PBT of RM4.09 million as compared to RM3.25 million in the preceding year comparative period.

    The bedding operation in Malaysia reported higher revenue of RM23.79 million compared to RM22.77 million in the preceding year comparative period, represents sales growth of 4% over the period with higher sales from Amway Malaysia. Lower PBT of RM1.54 million reported compared to RM2.06 million in the preceding year comparative period mainly due to lower profit margin recorded and higher marketing and selling expenses incurred.

    Associates in China contributed higher net profit of RM0.80 million against RM0.48 million in the preceding year comparative period. Higher profit recorded in the current period mainly due to better operating margin.

Current Year Prospects

The performance of the Group for the financial year ending 30 June 2024 will be impacted by changing consumer sentiments and spending confidence.

The Group has taken various initiatives to increase sales with the launch of new products at an affordable pricing. Several promotional activities have been launched to increase market share and effective cost control management implemented to improve profitability.

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