Posted by Jimmy Song > 2017-05-26 01:13 | Report Abuse

SHAH ALAM, 25 May 2017 – Sunzen Biotech Berhad (“Sunzen” or the “Group”) today announced its first quarter results for the financial year ending 31 December 2017 (“Q1FYE2017”) with revenue of RM45.7 million and profit after tax (“PAT”) of RM1.1 million. This marks the Group’s second consecutive quarter of profitability as the Group’s turnaround plans bears fruits after five (5) consecutive quarters of losses. The Group’s revenue and PAT for the quarter is an impressive turnaround compared to the revenue of RM8.1 million and loss after tax (“LAT”) of RM1.2 million incurred in the corresponding quarter last year (“Q1FYE2016”). This major turnaround and return to profitability can be attributed to the cost structure rationalisation efforts of the Group and contributions from the Group’s new business segment involved in the trading of crude palm oil, palm kennel and palm kennel shells product that commenced in Q1FYE2017. As at 31 March 2017, Sunzen’s balance sheet remained robust with a current ratio of 3.5x and a net-cash position of RM55.5 million. Sunzen’s Chief Executive Officer, Hong Choon Hau said, “Our strategic plans to turnaround the Group is starting to deliver the quick wins. That being said, we still have a lot of work to do and we are committed to our efforts in driving earnings growth and shareholders’ value.”