Latest news with #RM94.3mil
The Star
a day 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.
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.
