September 3, 2024
Poultry segment performance helps boost Q2 net profit of Malaysia's CCK Consolidated Holdings
Malaysia's CCK Consolidated Holdings Bhd said its second quarter net profit rose 18% to RM19.77 million (US$4.6 million) from RM16.76 million (US$2.9 million) a year ago, thanks to a better performance by its poultry segment.
Revenue for the quarter ended June 30, 2024 (Q2, FY2024) increased 9.9% to RM271.57 million (US$63 million) from RM247.11 million (US$57 million) previously, underpinned by better performances from its retail, poultry, and prawn segments, which was offset by a decline in the food service segment, according to the group's bourse filing. The retail segment's profit before tax (PBT) grew 2.3% year-on-year while revenue increased 9.0% to RM143.5 million (US$33 million), bolstered by mature contributions from established retail network and improved consumer demand.
The poultry segment posted a six-fold increase in PBT to RM3.91 million (US$898,587) as revenue rose 18.3% to RM95.8 million (US$28.8 million), driven by rising demand from institutional clients and its retail stores.
The prawn segment saw a 17.1% increase in PBT to RM3.13 million (US$714,027), while revenue rose 8.8% to RM28.8 million (US$6.7 million), supported by export sales and internal retail channels.
The food service segment's PBT, however, fell 65% to RM376,000 (US$86,609) while revenue fell 13.1% to RM5.6 million (US$1.3 million), which CCK Consolidated attributed to lower sales volume from government schools in Sarawak.
No dividend was declared during the quarter.
For the first half of FY2024, the group's net profit grew 25% year-on-year to RM41.14 million (US$9.4 million), while revenue rose 9.1% to RM532.29 million (US$123 million), driven by effective cost controls and strategic alignment of the product mix.
As of June 2024, the group's retail network consisted of 74 stores throughout East Malaysia.
- The Edge Malaysia