KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 20, 2025 / Cropmate Berhad ("Cropmate" or the "Company"), a key player in the conventional and specialty fertiliser manufacturing industry in Malaysia,announced today its financial results for the fourth quarter ended 31 December 2024 ("Q4 FY2024").
Cropmate Berhad
Cropmate is listed under the stock name "CRPMATE" with the stock code "0331".
Cropmate reported a revenue of RM36.1 million and a profit before tax ("PBT") of RM3.1 million for Q4 FY2024.
For the 12-months ended 31 December ("FYE") 2024, Cropmate achieved a revenue of RM160.7 million and a profit before tax ("PBT") of RM16.0 million. This represents a 6.0% increase in revenue compared to RM151.5 million in FYE2023, while PBT grew by 19.9% from RM13.4 million in FYE2023.
The Company's solid performance was underpinned by robust demand from oil palm plantations and durian orchards. Cropmate's specialty fertiliser segment, driven by increasing adoption among orchard owners, particularly durian farmers, continued to show strong growth.
Local sales contributed approximately 98.5% to the Group's revenue during the financial period, while the remaining revenue was derived from exports to countries such as Cambodia, Singapore, Vietnam, and Sri Lanka.
The Board of Directors has proposed a final dividend of 0.5 sen per ordinary share for the financial year ended 31 December 2024. The proposed dividend is subject to shareholders' approval at the upcoming Annual General Meeting, with further details on the entitlement and payment date to be announced in due course.
Managing Director of Cropmate, Mr. Lee Chin Yok, commented, "We are pleased with our performance for FYE 2024, which reflects the strength of our business model and our ability to meet the diverse needs of Malaysia's agriculture sector. Our specialty fertilisers, especially those tailored for high-value crops like durians, have gained strong traction. With the proceeds from our IPO, we are well-positioned to further strengthen our operations, enhance our R&D capabilities, and expand our reach."
Mr. Lee, added, "Our financial results underscore our position as a trusted fertiliser partner for the Malaysian agriculture industry. Looking ahead, we will continue to drive growth by expanding our market reach, investing in innovation, and supporting farmers with high-quality fertiliser solutions. The rising demand for specialty fertilisers, coupled with Malaysia's growing durian export market to China, presents exciting opportunities for Cropmate."
As at 20 February 2025, 5:00 P.M., Cropmate's share price closed at RM 0.19 with a market capitalisation of RM 140.20 million.
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About Cropmate Berhad ("Cropmate")
Founded in 2018, Cropmate Berhad is an established fertiliser manufacturer and supplier in Malaysia, specialising in the formulation and blending of conventional and specialty fertilisers. With a focus on innovation and sustainability, Cropmate offers a wide range of products designed to enhance agricultural productivity, including compacted and blended fertilisers, as well as semi-organic, organic, and liquid fertilisers. Led by industry veterans with decades of experience, Cropmate is committed to supporting farmers in improving crop yield and quality. As the first pure-play fertiliser company listed on Bursa Malaysia, Cropmate continues to advance its mission of contributing to the growth and sustainability of the agricultural sector.
Issued By: Swan Consultancy Sdn. Bhd. on behalf of Cropmate Berhad
For more information, please contact:
Jazzmin Wan
Email:j.wan@swanconsultancy.biz
William Yeo
Email:w.yeo@swanconsultancy.biz
SOURCE: Cropmate Berhad
View the original press release on ACCESS Newswire
