Financial Performance - The company's revenue for the six months ended June 30, 2024, was RM 235,564,000, an increase of 29.5% compared to RM 181,905,000 for the same period in 2023[1] - Gross profit for the same period was RM 45,922,000, representing a gross margin of approximately 19.5%, up from RM 37,249,000 in 2023[1] - The net profit for the six months ended June 30, 2024, was RM 20,497,000, a 23.5% increase from RM 16,628,000 in the previous year[2] - Total comprehensive income for the period was RM 18,104,000, down from RM 22,146,000 in 2023, primarily due to foreign exchange losses[2] - The company reported a basic and diluted earnings per share of RM 0.93 for the current period, compared to RM 0.81 in the previous year[2] - The company reported a pre-tax profit of 24,673 thousand MYR for the six months ended June 30, 2024, compared to 18,697 thousand MYR for the same period in 2023, indicating a growth of 31.9%[10] - The total segment performance showed a gross profit of 45,922 thousand MYR for the current period, up from 37,249 thousand MYR, marking an increase of 23.4%[10] Revenue Breakdown - Revenue from container liquid bag solutions reached 94,573 thousand MYR, up from 54,840 thousand MYR, representing a growth of 72.3% year-over-year[15] - The logistics center and related services generated revenue of 41,314 thousand MYR, compared to 39,733 thousand MYR, reflecting an increase of 4.0%[15] - The road transportation services revenue decreased to 36,992 thousand MYR from 37,001 thousand MYR, a slight decline of 0.02%[15] - Revenue from external customers in Malaysia was 123,256 thousand MYR, an increase from 105,668 thousand MYR, representing a growth of 16.6%[13] - Revenue from integrated freight forwarding services increased significantly by approximately 28.6% to about 53,242,000 MYR, with gross profit rising by 52.3% to approximately 12,811,000 MYR[32] - Revenue from container liquid bag solutions surged approximately 72.5% to about 94,573,000 MYR, with gross profit increasing by 108.8% to approximately 23,449,000 MYR due to an acquisition[33] Assets and Liabilities - The company's total assets as of June 30, 2024, were RM 649,330,000, compared to RM 654,186,000 as of December 31, 2023[3] - Non-current liabilities decreased to RM 171,613,000 from RM 183,144,000, indicating improved financial stability[4] - The company's cash and cash equivalents were RM 41,463,000, down from RM 50,769,000 at the end of 2023, reflecting a tighter liquidity position[3] - Trade receivables from third parties increased to 91,780 thousand MYR as of June 30, 2024, compared to 72,671 thousand MYR as of December 31, 2023, reflecting a growth of 26.2%[24] - Trade payables to third parties increased to 43,414 thousand MYR as of June 30, 2024, from 39,733 thousand MYR as of December 31, 2023, showing an increase of 6.8%[28] - The company’s total lease liabilities were approximately 80,853,000 MYR, a decrease from 89,223,000 MYR at the end of 2023[36] Costs and Expenses - For the six months ended June 30, 2024, the total employee costs amounted to 32,656 thousand MYR, an increase of 28.9% compared to 25,305 thousand MYR for the same period in 2023[19] - The cost of inventory for the six months ended June 30, 2024, was 71,124 thousand MYR, representing a significant increase of 63.3% from 43,611 thousand MYR in the previous year[19] - The company’s cost of goods sold for the six months ending June 30, 2024, totaled approximately 189,642,000 MYR, an increase of about 31.1% compared to the previous year[33] Investments and Future Outlook - The company has made significant investments in property, plant, and equipment, with a total of RM 386,186,000 as of June 30, 2024, up from RM 347,960,000[3] - The company invested approximately 49,289 thousand MYR in property, plant, and equipment during the six months ended June 30, 2024[10] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[1] - The company is optimistic about the market outlook for the remainder of the year, despite lower freight rates, as the overall economic environment shows signs of improvement[35] Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with corporate governance and financial reporting responsibilities[46] - The group had no contingent liabilities as of June 30, 2024[40] - There were no significant events affecting the group from June 30, 2024, to the date of the announcement[41] - The group did not purchase, sell, or redeem any of its listed securities during the relevant period[47] - The group has not utilized any financial instruments for hedging purposes as the anticipated foreign exchange risk is not considered significant[38] Dividends and Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the previous year[23] - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2024[43] - The weighted average number of ordinary shares used for calculating basic and diluted earnings per share remained at 2,064,000,000 for both periods[22] Employee Information - Employee count increased to approximately 1,035 as of June 30, 2024, compared to 901 as of June 30, 2023[42] - Employee costs for the six months ended June 30, 2024, were approximately MYR 32,656,000, up from MYR 25,305,000 for the same period in 2023, representing a year-on-year increase of about 29.3%[42] - The company is committed to attracting and retaining top talent by providing competitive compensation and bonuses based on performance[42]
鹰辉物流(01442) - 2024 - 中期业绩