Sorento Capital delivers strong Q3 FY25 performance with RM8.1m PBT
KUALA LUMPUR: Bathroom and kitchen sanitary ware solution provider Sorento Capital Bhd posted a revenue of RM41.1 million for the third quarter (Q3) ended March 31, 2025 (FY25) with a profit before tax (PBT) of RM8.1 million and a net profit of RM6.3 million.
This translates to a PBT margin of 19.7% and a net profit margin of 15.3%.
There are no figures to compare with the same quarter last year because this is only the third interim financial report prepared to meet Bursa Malaysia's ACE Market listing requirements.
For 9M FY25, the company reported a PBT of RM25.2 million and net profit of RM18.3 million, against revenue of RM135.9 million.
On an adjusted basis, after excluding one-off IPO listing expenses of RM3.1 million incurred during the nine-month period, Sorento Capital's adjusted PBT and net profit would have been RM28.3 million and RM21.5 million respectively.
This represents a PBT margin of 20.8% and a net profit margin of 15.7%.
Managing director Loo Chai Lai said the company's growth strategy remains centred on expanding its dealer network.
'We plan to recruit approximately 200 new dealers over the next three years, building on our existing base of 664 dealers in FY24.
'As of the first nine months of FY25, we have already added 96 new dealers. This expansion will further enhance our market reach and ensure nationwide accessibility to our products,' he added.
Industry prospects remain positive, supported by rising disposable incomes and growing lifestyle expectations, which are expected to drive increased bathroom and kitchen renovation spending.
The rise in residential and commercial construction activities further supports the positive industry outlook.
Government-led infrastructure initiatives, covering tourism infrastructure and public housing, are expected to drive demand for bathroom and kitchen sanitary ware solutions.
In line with this trend, Sorento Capital is expanding its footprint across key building segments, including residential projects, hotels, office buildings, and both new build and renovation developments.
By actively participating in a broader range of project types, the company aims to diversify its revenue base and tap into emerging market opportunities.
Sorento Capital maintained a healthy net cash position, with cash and cash equivalents of RM56.7 million as at March 31, 2025, exceeding total loans and borrowings of RM4.1 million.
This was further supported by a robust net operating cash inflow of RM16.8 million for 9MFY25.
With a minimal debt profile, Sorento Capital can capitalise on future growth opportunities while delivering consistent value to its shareholders.
To recap, Sorento Capital was listed on the ACE Market of Bursa Malaysia on October 28, 2024, and successfully raised RM57.4 million.
Sorento Capital is expanding its footprint across key building segments, including residential projects, hotels, office buildings, and both new build and renovation developments.
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