KUALA LUMPUR: Bathroom and kitchen sanitary ware solution provider Sorento Capital Bhd (SCB) commenced its first quarter (Q1) FY25 with robust revenue of RM45.0 million.
The company achieved a profit before tax (PBT) of RM7.3 million, with a net profit of RM5.0 million. This translates to a healthy PBT margin of 16.2% and a net profit margin of 11.1%.
There are no comparative figures as this is the first interim financial report being announced in compliance with
the ACE market listing requirements.
Excluding non-recurring IPO listing expenses of RM2.1 million, adjusted PBT for Q1 FY25 reached RM9.4 million, representing an adjusted PBT margin of 20.9%.
Adjusted net profit amounted to RM7.1 million, with an adjusted net profit margin of 15.8%.
Managing director Loo Chai Lai said following the recent listing, SCB is strategically positioned to expand within the bathroom and kitchen sanitary ware industry.
“Our current market share in Malaysia is approximately 4%. With the capital raised, we are committed to broadening our distribution network and advancing strategic growth initiatives to strengthen our market leadership.
“A key component of our growth strategy involves expanding our dealer network. We aim to recruit approximately 200 new dealers over the next three years, adding to our existing base of 664 dealers nationwide.
“Dealers serve as our primary distribution channel, enhancing the visibility of our brands and products, and extending our market reach.
“With our newly attained listing status, we believe that our brand awareness will increase, attracting new dealers and customers and ultimately supporting our earnings growth potential,“ Loo said.
SCB was listed on the ACE market of Bursa Malaysia on October 28, 2024, and has successfully raised RM57.4 million from the exercise.
