Supreme Consolidated Resources Bhd (“SCRB” or “Company”) today announced its financial results for the fourth quarter ended 30 September 2024 (“Q4FY2024”), ahead of its scheduled listing on the ACE Market on 29 November 2024.

SCRB recorded a revenue of RM54.72 million for Q4FY2024. The revenue of the Company was mainly attributable to the increase in sales of RM7.39 million in frozen and chilled food products mainly from bulk purchases by our wholesalers. This represents an increase of RM7.07 million or 14.84% compared to RM47.65 million for the same financial quarter 30 September 2023.

The Company registered Profit Before Tax (“PBT”) and Profit After Tax (“PAT”) of RM3.14 million and RM2.22 million respectively in Q4FY2024, with a PBT margin of 5.7% and PAT margin of 4.0%, respectively. 

Dato Richard Wee Liang Chiat, Non-Independent Executive Chairman of SCRB exudes confidence in the company's future, particularly with the upcoming expansion of the Company warehouse facility. He anticipates promising prospects ahead, underlined by SCRB's solid financial performance in this crucial quarter, in conjunction with their listing on the ACE Market.

“We are pleased to share that our financial performance has shown a notable improvement, highlighting the ongoing strength and resilience in the demand for our frozen food products. This encouraging trend underscores the success of our strategies and the lasting attractiveness of our products in the marketplace. With the expansion of the Company warehouse facility, we are confident that it will serve as an additional distribution centre for our Company and is expected to cater to the expansion of SCRB’s products,” Dato Richard elaborated.

The group declared a second interim dividend of RM0.0035 per ordinary share in respect of the financial year ended September 30, 2024. The entitlement date for this is 31 December 2024 and the proposed payment date for the Second Interim Single Tier Dividend is 16 January 2025.

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 Food & Beverages (“F&B”) Products and Non-F&B Products. Presently, SCRB has a total of two distribution centers 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.

In conjunction with its listing on the ACE Market of Bursa Securities Malaysia Berhad (“Bursa Securities”) on 29 November 2024, SCRB targets to raise estimated gross proceeds of RM17.5 million via the issuance of 70,000,000 new shares at an IPO price of RM0.25 per share. Based on the Group’s enlarged share capital of 430,000,000 shares and the aforesaid IPO price, the market capitalisation will be approximately RM107.5 million. 

#SCRB #FinancialResults #ACEMarket #IPO #FrozenFoodProducts #MalaysianBusiness

Twitter