Farm Fresh Berhad: 2024 Financial Performance and Insights

Farm Fresh Berhad has had an impressive financial year ending on 31 March 2024, demonstrating strong growth across various key metrics. Here's a breakdown of their financial performance and position:

Revenue & Profitability

Farm Fresh Berhad reported a total revenue of RM 810.4 million, a substantial increase from RM 629.7 million in 2023. The company’s gross profit reached RM 216.0 million, marking significant growth compared to RM 149.7 million the previous year.

Their EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) rose to RM 133.6 million from RM 96.9 million in 2023, while profit before tax stood at RM 69.1 million, up from RM 52.2 million. The profit after tax came in at RM 63.3 million, with the profit attributable to owners of the company (PATAMI) amounting to RM 63.5 million.

Dividends

Reflecting their strong performance, Farm Fresh Berhad announced a final dividend of 1.20 sen per share, amounting to RM 22.5 million, pending approval at the upcoming Annual General Meeting.

Financial Position

The company’s total assets grew to RM 1.28 billion, up from RM 1.06 billion in the previous year. This includes non-current assets of RM 783.4 million and current assets totaling RM 496.2 million.

In terms of equity and liabilities, the total equity attributable to the owners increased to RM 666.4 million from RM 631.0 million in FY2023. Notably, the value attributed to non-controlling interests surged to RM 26.6 million. The company's liabilities saw a rise, with current liabilities at RM 169.5 million and non-current liabilities at RM 417.2 million.

Performance Indicators

Farm Fresh Berhad reported a basic earnings per share (EPS) of 3.40 sen, compared to 2.69 sen the previous year. The net assets per share also increased, reaching 0.36 RM from 0.34 RM. The company's net gearing ratio stood at a stable 0.54 times, slightly up from 0.51 times in FY2023.

Cash Flow

The company generated a robust net operating cash flow of RM 134.995 million, indicating a strong cash position and a good ability to meet short-term liabilities.

Conclusion

Farm Fresh Berhad’s financial year 2024 has been marked by substantial growth and strong financial health. With a significant rise in revenue, profits, and assets, along with a stable equity base, the company continues to demonstrate its commitment to delivering shareholder value. The increase in dividends further underscores this commitment, making Farm Fresh Berhad a company to watch in the coming years.

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