Hup Seng’s FY23 showing improves

PETALING JAYA: Hup Seng Industries Bhd anticipates the operating environment to remain highly competitive.

The company recorded a net profit of RM13.68mil for the fourth quarter of financial year 2023 ended Dec 31, 2023, on a revenue of RM95.15mil.

Basic earnings per share stood at 1.71 sen versus 1.55 sen previously.

For the financial year ended Dec 31, 2023, the food and beverage manufacturer’s net profit rose to RM45.09mil from RM26.08mil in the previous corresponding period, while revenue rose 12% year-on-year to RM357.27mil.

Going forward, Hup Seng said it will continue to evolve to meet consumer demand as well as maintaining and improving product quality.