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BusinessToday
29-05-2025
- Business
- BusinessToday
Synergy House's Profit Plunges 73% To RM2.4 Million Despite Higher Revenue
Cross-border e-commerce seller and exporter of ready-to-assemble home furniture, Synergy House Bhd, net profit for the first quarter ended March 31, 2025 (1Q25) experienced a significant drop despite the group achieving a higher revenue figure for the quarter. For 1Q25, the group's net profit decreased by 72.8% to RM2.45 million from RM9.01 million. This is despite the group recording revenue of RM88.1 million, a 5.3% increase from RM83.7 million in the corresponding period last year. This was underpinned by a strong performance in the group's business-to-consumer (B2C) segment. The group's B2C revenue soared 17.3% year-on-year to RM51.2 million, up from RM43.7 million in the corresponding quarter last year. This performance was fuelled by strong demand from North America, Europe and Malaysia, as Synergy House continues to expand its presence on major e-commerce platforms and tap into evolving consumer trends. The positive momentum in B2C helped partially offset a 7.8% contraction in business-to-business (B2B) revenue, which stood at RM36.9 million compared to RM40 million in 1Q24. The B2B segment faced headwinds from geopolitical tensions in Europe and Asia, although North American markets remained resilient. Despite the profit dip, Synergy House Executive Director Tan Eu Tah said the group's financial position remains strong. 'As of March 31, 2025, the group reported shareholders' funds of RM126.2 million, a net gearing ratio of just 0.09 times and a healthy current ratio of 1.9 times. 'The group also held RM59.9 million in cash, bank balances and short-term investments, reinforcing its liquidity and ability to navigate short-term obligations,' Tan said, adding that the group will maintain a cautiously optimistic outlook for the remainder of FY25. 'We are sharpening our B2C strategy by diversifying across more e-commerce platforms and expanding into premium product categories that align with shifting consumer preferences. 'Our investment in artificial intelligence and market intelligence tools is equipping us with real-time insights to respond faster and smarter,' he said. While the near-term outlook remains clouded by macro and geopolitical risks, Tan said Synergy House is anchoring its strategy on digital transformation, product innovation and resilient e-commerce channels. 'We are committed to responsible growth that delivers long-term value to our stakeholders. 'By blending innovation with operational discipline, we aim to strengthen our position as a global player in the online furniture retail space,' Tan added. Related
Daily Express
27-05-2025
- Business
- Daily Express
MKH Oil Palm reports strong Q2 profit of RM19.2 mil, declares 2 Sen dividend
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 Text Size: KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Berhad (MKHOP) posted a 19.9 pc year-on-year rise in net profit to RM19.2 million for Q2 FY25, on the back of higher selling prices and new crude palm kernel oil sales. Revenue rose 11.8 pc to RM96.2 million. The company declared a 2 Sen interim dividend, payable on 25 June. MKHOP maintains a 50 pc dividend payout policy and delivered 4 Sen in dividends in FY24 (6.3 pc yield at 63 Sen share price). For the first six months, net profit surged 88.7 pc to RM51.2 million, or 79.7 pc of FY24's full-year earnings. Revenue grew 18.1 pc to RM198.8 million. Average Q2 prices were RM3,997/MT for CPO and RM3,043/MT for PK, with total FFB production at 92,829 MT. MKHOP's cash reserves hit a record RM243.6 million, with negligible debt. The company is undergoing due diligence for planned land acquisitions and currently owns 18,205 ha (17,009 ha planted). Chairman Tan Sri Dato' Alex Chen said the group's FY25 outlook remains strong amid steady CPO demand and continued operational improvements. The board expects satisfactory results for the full year ending 30 September 2025. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
