KUALA LUMPUR: Focus Point Holding Bhd will continue to improve its growth strategy in financial year 2024 (FY24) by balancing its cost structure and identifying new locations to better serve its customers.
Chairman Datuk Seri Suriani Datuk Ahmad said the company will recruit and train its optometrists to serve customers better and maintain its position as the leading provider of eye healthcare for prescription wear.
“The group looks to start investing in the latest artificial intelligence tools and equipment to help Focus Point provide higher quality advice to consumers, while rotating board members so that there is better succession planning,” she said.
She added that the group will roll out environmental, social and governance initiatives in line with its core values, and looks to put strategic support in its president/CEO and the team to lay the foundation for solid expansion and increased revenues.
Suriani stated that Malaysia’s gross domestic product is expected to grow by 4% to 5% in 2024, and the group is keen to be part of the growth engine, play an integral role in the challenging local retail sector, and is hopeful that the expected tourism arrivals and regional travel will bring higher revenue and increase the group’s market share.
“Both home-grown brands, Focus Point and Komugi (food and beverage) offer many opportunities for future growth thus, helping the group’s bottom line. Focus Point continues to remain vigilant on the rising operating costs in sustaining the business,” she said.
President/CEO Datuk Liaw Choon Liang said the group recorded revenue of RM260.9 million in 2023, reflecting a 4.9% increase compared with RM248.8 million in 2022. This marked another record year for the group as it achieved record high revenue for the second consecutive year.
“This growth was attributed to higher sales contributed from the newly opened optical outlets in 2023 together with the full-year sales effect of outlets opened in 2022 for the optical segment, and Focus Point’s strong sales growth achieved in the corporate sales of the food and beverage segment.”
He added: “2023 marked a significant milestone for the group as Focus Point transferred its listing status to the Main Market of Bursa Malaysia on Jan 2023.”
In addition, Liaw said, Focus Point will enhance its financial position in 2024 by controlling and prioritising inventory, and improving cash flow management by effectively managing operating and overhead costs.
“The group will look to closely monitor the underperforming optical and food and beverage outlets to maintain and improve profitability, introducing attractive sales promotion and investment in technology.”
Liaw said Focus Point anticipates positive growth in the retail industry driven by the faster recovery in tourist arrivals in 2024 and resilient consumer demand stemming from a healthy labour market and softening inflation pressures.
