Qian Hu Corp has become the first company with a December year end to announce its FY2024 results, with earnings of $357,000, reversing from a loss of $9.3 million in the preceding FY2023. Revenue in the same period was up 1.6% y-o-y to $71.4 million.
Higher revenue in its fish and plastics segments were offset by lower sales in its accessories unit.
The company plans to pay a first and final dividend of 0.4 cents.
Yap Kok Cheng, Qian Hu’s executive chairman & CEO says the current macroeconomic landscape continues to be hazy as inflation remains on the cards with the threat of more trade tariffs to be imposed with greater intensity under the "US President’s second term".
"Notwithstanding, we think that ASEAN remains a global growth driver with growing domestic sectors," he adds.
Yap says the company's ornamental fish segment continues to be resilient while the rising demand for edible seafood underpins the prospects of its aquaculture business.
See also: HC Surgical Specialists reports earnings of $3.38 million, 2.1% lower y-o-y
Barring unforeseen circumstances, Qian Hu expects to remain profitable in the current FY2025.
Qian Hu shares last traded at 19 cents, up 8.82% in the past 12 months.
