Greenyield sees growth in artstone housewares
KUALA LUMPUR: Greenyield Bhd expects its flower pots and dinnerware business to register better growth for the current financial year ending July 31 next year, compared with its core activities of selling pesticides and fertiliser.
Group managing director Tham Foo
Keong said the company would reduce its dependency on the fertiliser and pesticides business, as it planned to sell more products like dinnerware and other housewares using existing artstone.
“We are in the midst of developing new products including dinnerware and housewares using existing artstone formulation and other materials,” he said. Tham said Greenyield’s sales network has already expanded to markets like Australia, European Union and the United States.
Currently, Greenyield develops, manufactures and markets pesticides and fertilisers based on agro-technology.
“Currently, 90 per cent of our non-plantation business are overseas and only 10 per cent are local, while 70 per cent of our revenue are derived from overseas,” said Tham.
He said the company remained optimistic on recovery in the commodities market, despite a slowdown in rubber segment for the current financial year.
As palm oil and rubber prices rise, estate owners would buy more pesticides and fertilisers.
“Currently, our presence in the oil palm market is small. We intend to grow our market presence over the next two to three years,” he added.
For the financial year ended July 31, this year, Greenyield’s revenue decreased 17.80 per cent to RM30.67 million compared with RM37.30 million in the same period previously.
Its net profit for the period fell to RM221,000 from RM2.53 million in the same period a year ago.