Focus Point sets sight on continued expansion post-Main Market transfer

KUALA LUMPUR (Jan 5): Optical retail chain store operator Focus Point Holdings Bhd is set on continuing the group’s expansion both locally and regionally via effective marketing and promotional activities, as well as the opening of new optical and Japanese concept bakery Komugi outlets, according to its president and CEO Datuk Liaw Choon Liang.

Liaw said this in a statement released in conjunction with Focus Point’s successful transfer from the ACE Market of Bursa Malaysia to the Main Market on Thursday (Jan 5).

“Our commitment in steering Focus Point for long-term growth and sustainability developments shows our dedication in delivering outstanding results to all our stakeholders,” Liaw added.

Focus Point noted that the group currently has a total of 186 owned and franchised optical outlets and 32 Komugi outlets in Malaysia, the Philippines and Brunei.

Touching on the transfer to the Main Market, Focus Point said it marks a major milestone for the company, subsequent to its listing on the ACE Market on Aug 23, 2010.

“The transfer will further strengthen our group’s credibility among our customers, suppliers, business associates, employees and shareholders, and further strengthen the shareholder base of our company, especially among institutional investors,” Liaw added.

For the nine-month period ended Sept 30, 2022 (9MFY2022), Focus Point posted over a five-fold jump in net profit to RM25.4 million versus RM4.76 million in the same period a year earlier, carried by a 69% rise in cumulative revenue to RM180.37 million from RM106.73 million.

The group attributed the strong earnings mainly to higher year-on-year sales attained by all three of its segments ― optical and related products, franchise management, and food and beverage ― as the same period in 2021 was under phases of the Movement Control Order (MCO) lockdown.

Shares in Focus Point closed half a sen or 0.52% lower at 96 sen on Thursday, giving the group a market capitalisation of RM316.8 million.