Prospect: The higher US furniture sales were driven by the Covid-19 recovery stimulus and high demand following the lockdowns. Although purchase orders particularly from US customers remain strong, going forward we expect the continuous inflationary pressures may somewhat dampen demand. Nevertheless, the ongoing trade war between the United States and China, the Russia-Ukraine conflict and the resulting sanctions have driven importers to secure their sources of supply from SEA countries, including Malaysia
Base on my BRIEF study on the QR4 2023 (The latesr QR) of Wegmans:
(Note: A comparative figures from QR3 2023 included)
A: Sitting on positive reserve / Retained profits of RM 82,245,000 (121% of its share capital). It means, the company is a profitable company. B: Has a moderate cash and cash equivalents of RM 19 mil.
C. Total assets > Total liabilities, Total current assets > Total current liabilities, and its total current liabilities below 50% of its current assets – Means has a low indebtedness risk.
D. The dividend for shareholders – Dividend of 0.5 sen per ordinary share in respect of the financial year ended 31 December 2023.
THE FINDINGS:
1. NTA 23 sen _ , QR3 2023 - 23 sen. 2. NOSH 550.54 mil _ , QR3 2023 - 550.54 mil.
The Group’s revenue for the current financial quarter ended 31 December 2023 has increased by RM0.75 million or 2.46% to approximately RM31.42 million as compared to approximately RM30.66 million in the preceding year corresponding quarter ended 31 December 2022.
The higher revenue was mainly attributed to the higher sales volume from Malaysia.
The Group registered a profit before tax of approximately RM5.32 million for the current financial quarter ended 31 December 2023 as compared to profit before tax of approximately RM3.42 million for the preceding year corresponding quarter ended 31 December 2022.
The higher profit before tax was mainly attributed to the higher revenue generated and strengthening of United States Dollar (“USD”) against the RM whereby a majority of the group’s revenue sales are denominated in USD.
Note 2:
For the current financial quarter ended 31 December 2023, the Group’s revenue has decreased by RM2.09 million or 6.23% to approximately RM31.42 million as compared to approximately RM33.51 million in the preceding financial quarter ended 30 September 2023. The lower revenue was mainly due to lower sales volume from North and South America.
Despite decrease in revenue, the Group registered a profit before tax of approximately RM5.32 million for the current financial quarter ended 31 December 2023 as compared to a loss before tax of approximately RM0.45 million for the preceding financial quarter ended 30 September 2023. The loss before tax was consequent upon the Company’s prudent decision to provide full allowance for the impairment loss on a trade receivable of approximately RM8.00 million.
Note 3: Prospects
Despite the challenging global economic outlook, the Board will regularly review the performance and progress of the Group’s operations and financial performance as well as introduce measures to minimise our operating costs.
The Board expects that the Group’s operations for the financial year ending 31 December 2024 to remain profitable amidst a challenging business environment.
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Posted by Legend > 2022-05-27 15:37 | Report Abuse
Wow sudah ada gaji...haha