Financial Performance - For the fiscal year ending December 31, 2023, the total revenue was RM 117,797,000, a decrease of 12.2% compared to RM 134,182,000 in 2022[4] - The gross profit for the fiscal year was RM 26,117,000, down 18.4% from RM 31,954,000 in the previous year[4] - The profit before tax was RM 15,024,000, representing a decline of 9.5% from RM 16,593,000 in 2022[4] - The net profit for the fiscal year was RM 11,008,000, slightly down by 2.7% from RM 11,313,000 in 2022[4] - The total comprehensive income for the fiscal year was RM 11,557,000, an increase of 46.5% compared to RM 7,919,000 in the previous year[4] - The gross profit for the animal feed additives segment was 21,008 thousand MYR, while the human food ingredients segment reported a gross profit of 5,109 thousand MYR, totaling 26,117 thousand MYR for 2023[23] - The pre-tax profit for the fiscal year 2023 was 15,024 thousand MYR, down from 16,593 thousand MYR in 2022, representing a decline of 9.5%[32] - The company reported a net profit of 11,008 thousand MYR for 2023, compared to 11,313 thousand MYR in 2022, indicating a decrease of 2.7%[29] - Gross profit decreased from approximately 32.0 million MYR to about 26.1 million MYR, a decline of approximately 18.4%, with the gross profit margin slightly dropping from about 23.8% to approximately 22.2%[60] Assets and Equity - The company's total assets increased to RM 170,511,000 from RM 159,144,000, reflecting a growth of 7.9%[8] - The total equity attributable to the owners of the company rose to RM 160,579,000, up from RM 148,603,000, marking an increase of 8.5%[8] - The company reported a total profit attributable to equity holders of 11,418,000 MYR for 2023, compared to 11,313,000 MYR in 2022[36] - The company's total equity attributable to shareholders increased to approximately 160.6 million MYR from about 148.6 million MYR in the previous year[71] Revenue Breakdown - Distribution revenue from external customers for the animal feed additives segment was 55,429 thousand MYR, while the human food ingredients segment generated 28,064 thousand MYR in 2023[23] - The company’s distribution segment accounted for 70.9% of total revenue in 2023, while manufacturing contributed 29.1%[55] - Manufacturing revenue decreased from approximately 37.7 million MYR to about 34.3 million MYR, a decline of approximately 9.0% or about 3.4 million MYR, primarily due to reduced demand for vitamin and mineral premixes[56] - Distribution revenue fell from approximately 96.4 million MYR to about 83.5 million MYR, a decrease of approximately 13.4% or about 12.9 million MYR, mainly attributed to intense market competition leading to decreased demand for animal feed and human food ingredients[57] Costs and Expenses - The total sales and distribution costs for the fiscal year 2023 amounted to 2,381 thousand MYR, compared to 2,629 thousand MYR in 2022, reflecting a reduction of 9.4%[23] - The total employee costs for 2023 were 6,347 thousand MYR, an increase from 5,851 thousand MYR in 2022[30] - Administrative and other operating expenses rose by approximately 2.4 million MYR or 22.6% to about 13.0 million MYR, mainly due to expenses incurred by a subsidiary's investment in Hainan, China[62] Investments and Financial Position - The company has made a 2,877,000 MYR investment for a 4.8% equity stake in a company registered in Malaysia, completed after the fiscal year-end[45] - The fair value of other investments increased from 30,480,000 MYR in 2022 to 31,769,000 MYR in 2023[47] - The fair value of significant investments in the Affin Hwang Selected Bond Fund was approximately 31.8 million MYR, representing 18.6% of total assets[72] - As of December 31, 2023, a portion of the unutilized net proceeds amounting to $3.0 million (approximately HKD 23.7 million) has been invested in the Affin Hwang selected bond fund[90] Corporate Governance and Management - The company is committed to good corporate governance practices to enhance shareholder value and ensure effective accountability[91] - The roles of the chairman and CEO are currently held by the same individual, which the board believes provides strong and consistent leadership[92] - The company has maintained the minimum public float required by the listing rules since its listing date[110] Future Plans and Considerations - The company plans to consider foreign exchange hedging activities to mitigate currency fluctuations impacting operational performance[81] - The company will continue to monitor the global economy closely and evaluate the appropriate timing for utilizing the unutilized net proceeds[88] - The company has decided to delay the utilization of unutilized net proceeds to minimize potential risks associated with expansion plans[88] Shareholder Information - The company did not declare any dividends for the fiscal year ending December 31, 2023, consistent with the previous year[34] - The company has not recommended the distribution of a final dividend for the current fiscal year, consistent with the previous year[95] - The total number of shares that may be issued under the stock option plan is capped at 50,000,000 shares, subject to shareholder approval for any increase[100] - Each eligible participant's maximum entitlement under the stock option plan is limited to 1% of the company's issued share capital in any 12-month period[101] Meeting and Compliance - The annual general meeting is scheduled for June 26, 2024, with a suspension of share transfer registration from June 21 to June 26, 2024[111][112] - The audit committee has reviewed the consolidated financial statements for the fiscal year and confirmed compliance with applicable accounting standards and listing rules[114][115] - The annual performance announcement and annual report will be published on the company's and the stock exchange's websites, containing all relevant information as required by listing rules[117]
利特米(01936) - 2023 - 年度业绩