2024-09-25-港交所-椰丰集团_二零二四年中期报告_42页_2mb

Summary of SP International Holdings Limited (Coconut Group Ltd.) 2024 Interim Report

Company Information

• Name: S&P International Holding Limited / 椰豐集團有限公司
• Stock Code: 1695
• Headquarters: No. 27-3, Jalan PJU 5/13, Dataran Sunway, Kota Damansara, 47810 Petaling Jaya, Selangor Darul Ehsan, Malaysia
• Main Business: Manufacturing and distribution of coconut-based products, including coconut milk powder, low-fat coconut cream, and other Southeast Asian traditional food ingredients.
• Limited Liability: Incorporated in Cayman Islands.

Financial Highlights

• Revenue: Increased by 39.42% to MYR 56.33 million from MYR 40.40 million in 2023.
• Gross Profit Margin: Rose from 19.72% to 23.24%, driven by cost efficiency and higher sales.
• Operating Profit: Turned positive, growing to MYR 3.94 million from a loss of MYR 3.45 million in the previous year.
• Non-Controlling Interest: Minimal changes.
• Key Ratios: Equity return rate (annualized) improved to 5.22% from -7.78%.

Operating Discussion

• Revenue growth in 2024上半年 attributed to increased sales of coconut-based products, particularly driven by Coconut Meal Powder and other items.
• Year-over-year change in expenses: Sales & distribution costs rose due to logistics, but administrative expenses increased slightly from higher employee costs.
• Forex losses reduced due to loan currency changes.
• Future strategy includes market expansion and supply chain enhancements to sustain growth.

Future Outlook

• Optimistic about coconut demand but cautious due to global uncertainties.
• Plans focus on new market development and improved competitiveness for long-term value.

Other Key Notes

• Director Changes: Tang Koon Fook appointed as GM on August 29, 2024; Mohd Ibrahim Bin Mohd Nor reappointed as Chairman.
• Financial Health: Strong cash position; negative working capital change, indicating efficient operations.
• Dividends: No dividends declared for 2024上半年.
• No Material Events: No significant issues or litigation reported.