SENAI: Farm Price Holdings Bhd, a Johor-based wholesaler and distributor of fresh vegetables, food and beverage (F&B) products and other groceries, recorded revenue of RM32.9 million for the third quarter (Q3) ended September 30, 2025 (FY25), representing a 7.4% year-on-year (YoY) increase from RM30.6 million in Q3 FY24.
The growth was driven by stronger export demand, with sales to Singapore rising 42.9% YoY to RM12.2 million, up from RM8.6 million in Q3 FY24.
This uplift followed the completion of the acquisition of specified assets and business in Hong Yun Vegetables & Fruits Sdn Bhd in October 2025, which strengthened the group’s market reach and distribution capabilities in the country.
Q3 FY25 gross profit (GP) was up 24.1% YoY to RM8.1 million on higher volume and improved sales mix from the export market, translating into a Q3 FY25 GP margin of
24.8%.
Net profit for the quarter, however, stood at RM1.6 million vis-à-vis RM2.9 million in the preceding quarter, mainly due to higher administrative expenses associated with the group’s newly established subsidiaries.
For 9M FY25, Farm Price achieved revenue of RM93.3 million, up from RM91.9 million
in the 9M of FY24 on the back of rising market demand for fresh vegetables.
The wholesale segment remained the key revenue driver, contributing 94.0% of total revenue, while the retail segment accounted for the remaining 6.0%.
Geographically, Malaysia accounted for 67.9% of total revenue, while Singapore’s share rose to 32.1% from 28.2% in the previous year, reflecting the group’s growing export momentum.
In tandem with the revenue growth, net profit for 9M FY25 stood at RM7.2 million,
matching the level recorded in 9M FY24.
Managing director Dr Lawrence Tiong Lee Chian said the company is encouraged by the growing export sales to Singapore, where revenue contribution is past the 30% mark.
“Meanwhile, we view the lower profitability for the quarter as a temporary situation as we scale our operations. We are laying a solid foundation to deliver greater value and enhance overall efficiency in the near future,” he said.
Building on this progress, the expansion of the group’s centralised distribution centre in Senai is on track to be completed by the end of 2025.
Once operational, the expanded facility will enhance Farm Price’s value-added capabilities, enabling higher capacity for pre-packed and fresh-cut vegetables to serve the rising demand in Singapore.
This will position the group to capture greater market share and drive stronger revenue contribution from the country in the coming years.
“Our Sabah distribution centre, which commenced operations in February 2025, is gaining strong traction with a utilisation rate exceeding 80%. We are also exploring collaborations with local partners who operate cold storage facilities and supply locally grown vegetables to improve our distribution efficiency in East Malaysia.
“All in all, we are focused on deepening our presence in key markets, expanding our
geographical reach and exploring synergistic opportunities for horizontal expansion beyond vegetables,” Tiong said.
Farm Price remained in a healthy financial position, supported by a net cash position
and net assets per share of RM0.14 as at 30 September 2025.
The group also generated a positive net operating cash flow of RM10.9 million in 9M FY25.
