KUALA LUMPUR: Hup Seng Industries Bhd
, which posted a 26.7% rise in net profit for the fourth quarter ended Dec 31, 2024 (4Q24), maintains a cautious outlook due to the industry's highly competitive nature.
“The group will continue to stay vigilant and adaptable to market shifts. We anticipate further challenges, particularly with the rising cost of raw materials, especially palm oil, due to supply constraints in the near future and possible risks of higher tariffs,” the biscuits maker said the notes accompanying its financial results.
