PETALING JAYA: Farm Fresh Bhd, one of Malaysia’s leading dairy producers, showcased its resilient business model following strong growth and profitability in its second quarter ended Sept 30, 2024.
For the quarter under review, Farm Fresh recorded a 106% year-on-year increase in profit after tax (PAT) to RM27 million on the back of 25.6% revenue growth to RM249.2 million, its highest ever quarterly revenue to date.
The group recorded a 104.7% increase in profit before tax (PBT) to RM29.3 million and 104.7% leap in profit after tax and minority interest (Patami) to RM26.2 million.
For the cumulative six months period, revenue increased by 27.9% to RM490.9 million, PBT by 185.6% to RM57.7 million and PAT by 185.9% to RM53.5 million. In addition, Patami surged by 172.3% to RM52.2 million over the preceding year’s corresponding period.
The higher revenue was mainly driven by its Malaysian operations following increased sales from hotels, restaurants and cafes, and commercial UHT, coupled with positive responses from the launch of new products such as Farm Fresh Grow, Farm Fresh Choco Malt and consumer-packaged goods ice cream.
Farm Fresh Group managing director and group CEO, Loi Tuan Ee said: “Continuing our growth trajectory, I am delighted to share our financial performance for the first half of FY2025 which we are seeing the results of our strategic initiatives and making solid progress against each one of them including categorical expansion of our products as well as our plans to expand regionally. We have launched our exciting new choco malt product in powder format back in July 2024 and we are anticipating heightened demand for this product given the total addressable market of more than RM1 billion in Malaysia alone.”
