Fiamma records robust Q1 FY25 performance, driven by trading, property segment gains
Profit before tax surged by 761% to RM41.09 million from RM4.77 million in Q1 FY24, supported by strong operational performance across all segments and a one-off gain arising from the dilution of equity interests in subsidiaries.
The trading and services segment, contributing 79.2% of total revenue, achieved steady growth, increasing to RM78.01 million from RM77.10 million previously, with segment PBT improving to RM10.91 million from RM9.30 million.
This reflects sustained demand and efficient operational management.
The group's property development segment showed notable improvement, contributing 19.5% of total revenue.
Revenue rose to RM19.25 million from RM17.32 million, and the segment returned to profitability, achieving a profit before tax of RM0.80 million compared to a loss of RM1.44 million in the same quarter last year.
Commenting on the encouraging quarterly performance, Fiamma group CEO Tan Chee Wee said the company's robust Q1 FY25 performance reflects the continuous efforts to enhance operational efficiency and capitalise on market opportunities.
'The strategic joint venture with Samyou to launch our new Vino brand in the air conditioner segment underscores our commitment to diversifying our product offerings and driving future growth.
'Additionally, we remain dedicated to ongoing investments in brand-building initiatives to strengthen our market presence and competitive edge,' he said in a statement.
Fiamma recently entered into a strategic joint venture with Samyou to establish its presence in the air conditioner market through the new Vino brand, expanding its product portfolio and leveraging synergies between both companies.
Looking ahead, Fiamma remains optimistic about its growth trajectory despite global economic uncertainties.
The group is focused on innovation, operational enhancements, and product portfolio expansion, particularly in smart and energy-efficient solutions.
Ongoing and planned property development projects, including those in Johor Bahru, Sungai Besi, and Kuala Lumpur, are expected to positively contribute to future profitability.
'Our strategic focus remains clear: enhancing operational efficiency, expanding our distribution channels, and consistently delivering innovative solutions to ensure sustainable growth and value for our stakeholders,' Tan said.
Looking ahead, Tan said Fiamma remains optimistic about its growth trajectory despite global economic uncertainties.
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