Financial Performance - Revenue for the six months ended June 30, 2024, was RM 56,331,822, representing a 39.42% increase compared to RM 40,403,890 in the same period of 2023[4] - Operating profit for the same period was RM 3,943,529, a significant turnaround from an operating loss of RM 3,447,941 in 2023, indicating a greater than 100% improvement[4] - The company reported a net profit attributable to owners of RM 3,247,950, compared to a loss of RM 4,556,561 in the prior year, marking a greater than 100% change[4] - Total comprehensive income for the period was RM 5,458,109, compared to a loss of RM 392,229 in the same period last year[9] - The company reported a net loss of MYR 1.8 million for the period, an improvement from a loss of MYR 4.6 million in the same period last year[13] - The company reported a profit attributable to equity shareholders of MYR 3,247,950 for the six months ended June 30, 2024, compared to a loss of MYR 4,556,561 in the same period of 2023, marking a significant turnaround[31] - Basic earnings per share for the six months ended June 30, 2024, was MYR 0.30, compared to a loss per share of MYR 0.42 for the same period in 2023[31] Cash and Liquidity - Cash and cash equivalents increased by 59.51% to RM 13,247,095 from RM 8,304,999[5] - Cash and cash equivalents rose significantly to MYR 13.2 million from MYR 8.3 million, marking an increase of 59.5%[15] - Operating cash flow for the six months ended June 30, 2024, was MYR 8.6 million, compared to MYR 9.4 million in the previous year, indicating a decrease of 9.5%[16] - The company maintained a strong financial position with a net cash status as of June 30, 2024, ensuring the ability to meet debt obligations[61] - As of June 30, 2024, the group's cash and cash equivalents amounted to approximately 13.25 million Malaysian Ringgit, an increase of about 4.95 million Malaysian Ringgit from approximately 8.30 million Malaysian Ringgit as of December 31, 2023[63] Assets and Liabilities - Total assets increased to MYR 168.4 million as of June 30, 2024, compared to MYR 163.3 million as of December 31, 2023, reflecting a growth of 7.3%[10] - Total liabilities decreased slightly to MYR 44.1 million from MYR 44.4 million, a reduction of 0.7%[11] - The company’s equity attributable to shareholders increased to MYR 124.3 million from MYR 118.9 million, representing a growth of 4.0%[10] - Non-current loans and borrowings as of June 30, 2024, were MYR 28,283,719, slightly down from MYR 28,761,070 as of December 31, 2023[40] - Total loans and borrowings as of June 30, 2024, were approximately 28.28 million Malaysian Ringgit, a decrease of about 0.48 million Malaysian Ringgit from approximately 28.76 million Malaysian Ringgit as of December 31, 2023, primarily due to loan repayments[63] - The debt-to-asset ratio as of June 30, 2024, was approximately 0.262 times, down from 0.272 times as of December 31, 2023[64] Revenue Breakdown - Revenue from coconut-related beverage products amounted to MYR 55,010,156, up from MYR 37,962,868, indicating a growth of 45.0%[23] - Revenue from Southeast Asia increased to MYR 20,163,607, a rise of 28.9% from MYR 15,715,461 in the previous year[26] - The company reported other income of MYR 310,495, which is an increase from MYR 275,608 in the prior year[27] - Financial income from interest on financial assets calculated using the effective interest method was MYR 34,872, compared to MYR 4,570 in the previous period[28] Cost and Expenses - Gross profit margin improved to 23.24% from 19.72%, reflecting a 3.52 percentage point increase[6] - The cost of goods sold for the six months ended June 30, 2024, was MYR 43,239,474, an increase of 33.2% compared to MYR 32,434,833 in the same period of 2023[35] - Administrative expenses for the first half of 2024 were approximately 5.04 million Malaysian Ringgit, an increase from about 4.64 million Malaysian Ringgit in the first half of 2023[53] Investments and Capital Expenditures - The company invested MYR 4.2 million in property, plant, and equipment during the period, up from MYR 1.7 million in the previous year, indicating a significant increase in capital expenditure[16] - Capital expenditures for the first half of 2024 were approximately 0.46 million Malaysian Ringgit, slightly up from approximately 0.44 million Malaysian Ringgit in the first half of 2023[66] Corporate Governance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results for the first half of 2024[84] - The company has complied with all applicable corporate governance codes during the first half of 2024[82] - The company maintains a commitment to good corporate governance practices, ensuring a balanced board composition[82] - The company has adopted a standard code for securities trading by directors, confirming compliance in the first half of 2024[83] Employee and Shareholder Information - The company had 354 employees as of June 30, 2024, with a focus on performance-based compensation and regular training programs[71] - Major shareholders include TYJ and Yeow Geok Tiang, each holding 567,000,000 shares, representing 52.5% of the company[76] - Trinity and Goh Soo Cheng each hold 243,000,000 shares, accounting for 22.5% of the company[76] - The total issued shares of the company as of June 30, 2024, is 1,080,000,000[77] Other Information - The company has not adopted any new accounting standards that would significantly impact its financial performance during the reporting period[20] - The financial results for the first half of 2024 have not been audited and were reviewed and approved by the board on August 29, 2024[19] - There are no significant events requiring disclosure after June 30, 2024, up to the date of this interim report[81] - The company did not have any significant investments or capital commitments as of June 30, 2024[67] - There were no significant acquisitions or disposals of subsidiaries, associates, or joint ventures in the first half of 2024[67] - The company has no foreign exchange hedging policy but closely monitors foreign exchange risks[68] - No interim dividend was declared for the first half of 2024[69] - The company did not repurchase any of its listed securities in the first half of 2024[80]
椰丰集团(01695) - 2024 - 中期财报