By DayakDaily Team
KUCHING, Feb 21: Supreme Consolidated Resources Bhd (SCRB), a Sarawak-based Fast Moving Consumer Goods (FMCG) industry player, announces its financial results for the first quarter of the financial year ended Dec 31, 2024 (1QFY25).
For 1QFY25, SCRB recorded a revenue of RM56.16 million, representing an increase of RM4.35 million or 8.40 per cent compared to RM51.81 million for the same financial quarter ended Dec 31, 2023 (1QFY24).
The increase in revenue was primarily attributed to the rise in sales of RM4.10 million in frozen and chilled food products, mainly from bulk purchases by SCRB’s wholesalers and retail customers.
The company’s revenue remained resilient across its key business segments, with the Frozen & Chilled Food & Beverages (F&B) segment contributing RM48.53 million, the Ambient F&B segment contributing RM7.60 million, and the non-F&B contributing RM0.04 million respectively.
SCRB’s gross profit rose by 12.33 per cent from RM6.29 million in 1QFY24 to RM7.06 million in 1QFY25, driven by the aforementioned revenue growth of 8.40 per cent.
Profit before tax (PBT) rose from RM2.91 million to RM3.41 million, while Profit After Tax (PAT) increased from RM2.01 million to RM2.37 million.
On a normalised basis, the adjusted profit for the quarter is RM2.77 million, after taking into account RM0.40 million in costs associated with the company’s listing exercise on the ACE Market of Bursa Malaysia Securities Bhd (Bursa Securities).
The improved profitability was mainly supported by higher revenue and the write-back of impairment losses on trade receivables of RM0.18 million.
Commenting on the financial performance, SCRB non-independent executive chairman Dato Richard Wee Liang Chiat expressed confidence in the company’s future and remained optimistic about its prospects.
“By leveraging on the Company’s competitive strengths, SCRB will continue to explore new business opportunities through its current and potential customers,” he said.
Looking ahead, Wee said the company will expand its product range to align with its consumer needs and enhance our company’s agency portfolio by acquiring new agency rights.
“Additionally, we will expand our distribution network and strengthen our distribution reach in Sarawak and Sabah either via acquisition of suitable distributors or by establishing our own distribution network,” said Wee.
SCRB provides market access and coverage for consumer products in Sarawak and Sabah, where it is principally involved in the distribution of third-party brands as well as the Company’s brands of Frozen and Chilled Food Products, Ambient F&B Products, and Non-F&B Products.
Presently, SCRB has a total of two distribution centres equipped with warehousing facilities and cold storage facilities in Sarawak, located in Kuching and Miri, to cater to the storage as well as distribution of various types of consumer products.
At a recent Annual General Meeting (AGM), the company’s shareholders also passed a proposal to approve all six resolutions. — DayakDaily
