By DayakDaily Team
KUCHING, Nov 21: Supreme Consolidated Resources Berhad (SCRB) reported a 72.5 per cent year-on-year (y-o-y) increase in earnings for the fourth quarter of the financial year 2024 (4QFY24), which ended in September 2024.
The frozen food distributor achieved a net profit of RM2.22 million, compared to RM1.29 million in the same period last year.
Revenue for 4QFY24 rose by 14.84 per cent y-o-y to RM54.72 million, up from RM47.65 million recorded in 4QFY23, SCRB revealed in a filing with Bursa Malaysia today (Nov 21).
The company attributed the higher revenue to increased sales of frozen and chilled food products, primarily driven by bulk purchases from wholesalers.
For the full financial year 2024 (FY24), SCRB’s revenue grew by 13.7 per cent to RM226.98 million, compared to RM199.64 million in FY23.
This increase was primarily due to improved festive sales, bulk purchases of frozen meat and processed food products, and higher export sales.
Commenting on its prospects, the group said it is expanding its product range to meet consumer demand by securing new local and foreign agency rights, acquisition of other distributors and exporting and trading of dairy products.
It is also expanding its distribution network and strengthening its distribution reach in Sarawak and Sabah either through acquisition of suitable distributors or by establishing an organic distribution network.
On top of that, SCRB is expanding its warehouse capacity to meet the growing demand of its business.
The company is set to make its debut on the ACE Market of Bursa Malaysia Securities Berhad on Nov 29, following an overwhelmingly positive response to its initial public offering (IPO).
The public portion of the IPO shares was oversubscribed by a staggering 349.42 times. — DayakDaily
