Financials

Quarterly Report For The Financial Period Ended 31 December 2024

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Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
For the 4th Quarter Ended 31 December 2024

Condensed Consolidated Statement of Financial Position
As at 31 December 2024

Review of performance

Financial review for current quarter and financial year to date

3 Months Ended 31.12.2024 vs 31.12.2023

For the three months ended 31 December 2024, the Group recorded revenue of RM183.7 million, reflecting a 31.6% increase from RM139.6 million in the same period of 2023. The Group experienced a significant turnaround in gross profit, rising by 253.2% to RM15.6 million, compared to a gross loss of RM10.2 million in previous year. Despite the increase in revenue and gross profit, profit before taxation declined by 91.7%, dropping from RM26.6 million to RM0.3 million. Consequently, profit attributable to the owners of the company declined by 94.0%, from RM37.6 million to RM2.2 million.

12 Months Ended 31.12.2024 vs 31.12.2023

For the financial year ended 31 December 2024, the Group reported total revenue of RM539.6 million, representing a 6.3% increase compared to RM507.8 million in the previous year. Gross profit grew significantly by 112.2%, rising from RM19.4 million to RM41.1 million. As a result, profit before taxation surged by 84.3%, increasing from RM17.3 million to RM31.9 million. Profit after taxation also saw a strong rise of 89.7%, climbing from Rm13.0 million to RM24.7 million. Additionally, profit attributable to the owners of the company increased by 14.8%, reaching RM28.8 million compared to RM25.1 million in 2023.

Commentary on Prospects

The Malaysian palm oil industry is expected to grow in 2025. Palm oil prices are likely to be higher, averaging between RM4,350 and RM4,600 per ton, due to strong demand, especially from Indonesia's B40 biodiesel program. However, challenges remain, including the European Union Deforestation Law, which will require Malaysia to follow strict sustainability rules. To stay competitive, the industry must focus on sustainable practices and meet global environmental standards. Despite these challenges, the outlook remains positive.