Farm Fresh group managing director and CEO Loi Tuan Ee
KUALA LUMPUR: Delivering a strong earnings result in the first quarter of its new financial year, Farm Fresh Bhd
said its strategic initiatives have started to yield fruit.
"The positive growth trajectory is a culmination from the strategic initiatives we have undertaken including category expansion of our products, recruitment of new customers, and cost optimisation.
"I strongly believe that we are well poised for sustained growth, leveraging our strong brand reputation to capture a larger market share," siad group managing director and group CEO Loi Tuan Ee in a statement.
In 1QFY25, Farm Fresh posted a net profit of RM26mil, which represents four times the net profit of RM6.37mil in the year-ago quarter, while earnings per share rose to 1.39 sen from 0.34 sen previously.
Revenue climbed to RM241.7mil in 1QFY25 from RM185.46mil in the previous corresponding quarter.
According to Farm Fresh, the improved topline was largely owing to its Malaysian operations, underpinned by higher sales contribution from its new products, higher hotel, restaurant, and café (Horeca) sales along with the full-quarterly contribution from its ice cream division under Inside Scoop and Sin Wah.
Meanwhile, the group's Australian operations also turned around by recording higher revenue and generating an operating profit for the quarter, driven by the higher external sales from Goulburn Valley Creamery Pty Ltd.
