SSF Home Group announces RM37.7 mln in revenue for 3QF24
LUMPUR: Furniture, home decor and home living products retailer SSF Home Group Bhd (SSF) reported a notable revenue of RM37.7 million for the third quarter of the financial year 2024 (3QFY24).
This is an increase of 20.4 per cent from RM31.3 million in the immediate corresponding quarter, driven by heightened sales activities during key seasonal periods such as Christmas and Chinese New Year.
The group’s profit after tax (PAT) for 3QFY24 reached RM2 million, marking a substantial turnaround from a loss after tax (LAT) of RM3.6 million in the 2QFY24.
This remarkable recovery can be attributed to the higher revenue generated and the absence of one-off listing expenses of approximately RM3.2 million that were incurred in the previous quarter.
Lok Kok Khong, executive director of SSF Home Group Berhad commented, “In the face of global economic challenges and rising interest rates, SSF’s resilient performance this quarter, demonstrated by a significant revenue of RM37.7 million and a PAT of RM2 million, highlights our brand’s enduring strength and our capacity to navigate through adversity.
“This accomplishment mirrors our strategic flexibility and our steadfast pursuit of excellence despite the prevailing uncertainties.”
He further noted, “With a tempered outlook towards the anticipated 4.5 per cent economic growth in Malaysia for 2024, our strategies remain grounded yet forwardlooking.
“The gradual recovery in exports and the steady domestic demand, particularly in the services sector, present opportunities we aim to capitalise on. Our cautious optimism is fuelled by the consistent consumer demand and the supportive labour market.
“Our group has opened three additional retail outlets in the fourth quarter of FY24 is a strategic step towards enhancing our market presence thoughtfully and sustainably, reinforcing our commitment to our customers and our vision for strategic growth.”
There are no comparative year-on-year figures as SSF was only listed on the ACE Market of Bursa Malaysia in October 2023.