$HEIM / 3255 (HEINEKEN MALAYSIA BERHAD): Record High Profit

Here are some updates on Q1FY24 performance: -

📌 Revenue rose by 7% year-on-year to RM789.17 million, attributed to the effective execution of the Chinese New Year campaign and strategic commercial initiatives during the quarter.
📌 Profit Before Tax (PBT) increased by 12% year-on-year to RM161.29 million, driven by revenue growth and cost management.
📌 Net profit increased by 11% to RM122.48 million, which is aligned with PBT.
📌 Cash position surged by 216% to RM136.77 million, while receivables also saw a 57% increase to RM678.68 million.
📌 Borrowings increased by 152% to RM340 million.
📌 Net Operating Cash Flow (NOCF) recorded a negative RM94.14 million due to RM245.86 million in receivables, deposits, and prepayments.
📌 Despite the positive performance in Q1FY24, the company will maintain a cautious outlook, considering the volatile trading environment and macroeconomic concerns.
📌 HEIM aims to sustain momentum by prioritizing EverGreen strategies, focusing on superior growth, consumer-centricity, cost efficiency, sustainability, digitalization, and fostering a high-performance culture.
📌 Successful marketing investments have been pivotal in driving the company's top-line growth.