Latest news with #Cropmate
The Star
16 hours ago
- Business
- The Star
Cropmate optimistic amid agriculture sector issues
The fertiliser manufacturer reported a second-quarter net profit of RM3.4mil. PETALING JAYA: Cropmate Bhd remains cautiously optimistic on demand prospects, noting that fertiliser consumption is closely tied to the broader political, economic and climatic factors affecting the agriculture sector. 'Our team is focused on strategic capital investments and product innovation to strengthen Cropmate's market position and long-term value creation,' managing director Lee Chin Yok said in a statement. In the second quarter ended June 30, the fertiliser manufacturer reported a net profit of RM3.4mil, or 0.47 sen per share, lifting first-half profit to RM7.2mil, or 0.98 sen per share. Quarterly revenue came in at RM45.7mil, bringing total revenue for the first half to RM94.3mil. 'We are encouraged by our first-half results, particularly in light of the seasonal and external pressures faced by the agriculture sector. Our ability to sustain profitability and margins underscores the strength of our business fundamentals. 'We continue to focus on improving operational efficiency, supporting our customers' productivity, and executing our growth initiatives,' Lee said.
New Straits Times
a day ago
- Business
- New Straits Times
Cropmate posts RM3.5mil net profit on RM45.7mil revenue in Q2
KUALA LUMPUR: Cropmate Bhd posted a net profit of RM3.5 million for its second quarter ended June 30, 2025. The company recorded revenue of RM45.7 million during the quarter, with local sales contributing about 96.9 per cent to the total. Cropmate achieved a gross profit margin of 17.5 per cent for the period. It said pre-tax profit stood at RM4.6 million, compared with RM5.0 million in the preceding quarter, as revenue slipped 5.9 per cent due to lower sales volume of fertilisers. Cropmate said its performance was mainly underpinned by sales to oil palm plantations and durian orchards. Looking ahead, the company said demand for fertilisers is expected to remain largely dependent on the performance of the plantation and food crop sectors. It added that any changes in political, social and economic conditions, including tariffs or trade restrictions, could affect demand and disrupt supply chains. Cropmate managing director Lee Chin Yok said the company remains committed to enhancing operational efficiency, helping customers boost productivity, and driving its growth initiatives. The company had used RM23.2 million from the RM42 million raised through its initial public offering. The proceeds were channelled towards working capital, capital expenditure and listing expenses. Cropmate said it is advancing its strategic expansion plan, which includes the proposed acquisitions of Factory Lots 8949 and 8950 and the planned disposal of Lot 51.
The Star
a day ago
- Business
- The Star
Cropmate optimistic amid agriculture sector challenges
Cropmate Bhd managing director Lee Chin Yok KUALA LUMPUR: Cropmate Bhd remains cautiously optimistic on demand prospects, noting that fertiliser consumption is closely tied to the broader political, economic and climatic factors affecting the agriculture sector. 'Our team is focused on strategic capital investments and product innovation to strengthen Cropmate's market position and long-term value creation,' managing director Lee Chin Yok said in a statement. In the second quarter ended June 30, the fertiliser manufacturer reported a net profit of RM3.4mil, or 0.47 sen per share, lifting first-half profit to RM7.2mil, or 0.98 sen per share. Quarterly revenue came in at RM45.7mil, bringing total revenue for the first half to RM94.3mil. "We are encouraged by our first-half results, particularly in light of the seasonal and external pressures faced by the agriculture sector. Our ability to sustain profitability and margins underscores the strength of our business fundamentals. 'We continue to focus on improving operational efficiency, supporting our customers' productivity, and executing our growth initiatives,' Lee said. Cropmate has used RM23.2mil of its RM42mil initial public offering (IPO) proceeds for working capital, capex and listing expenses. The company is moving ahead with its expansion plan, which includes acquiring Factory Lots 8949 and 8950 and disposing of Lot 51.
