Chloe Tai Blog

Synergy House Berhad : FY2024 Outlook (Annual Report)

ChloeTai
Publish date: Sat, 27 Apr 2024, 08:20 PM
ChloeTai
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This is my blog.

As we look towards 2024, Synergy House is poised to further solidify its position in the cross-border B2C e-commerce market, particularly in the United States and Europe. These regions, recognised for their advanced e-commerce infrastructure and tech-savvy consumer base, large population with higher purchasing power, present significant opportunities for growth. The successful IPO, which raised a substantial capital, positions us well to continue investing in our company’s success and expansion. With plans to introduce more B2C SKUs by the end of 2024 and to commence B2C sales in France, we’re targeting new platforms and diversifying our product range with the addition of kids’ furniture and bathroom vanity furniture amongst others. This strategic expansion, supported by the IPO funds, aims to meet the evolving demands of the global arket and enhance our competitive edge, ensuring sustained success in the dynamic e-commerce landscape.

Year
2019
2020
2021
2022
2023
Revenue (RM'000)
111,482
122,891
184,292
194,093
270,172
Net Profit (RM'000)
10,895
12,107
14,387
16,624
27,148
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