News

PRESS STATEMENT/ SIARAN AKHBAR
(FOR IMMEDIATE RELEASE)

Thursday, 27 February 2025

SORENTO CAPITAL BERHAD ACHIEVES RM94.8 MILLION REVENUE FOR 1HFY25

Klang, 27 February 2025 – Bathroom and kitchen sanitary ware solution provider (厨 卫洁具经销商), Sorento Capital Berhad (“Sorento Capital” or the “Company”), has today announced its second quarter (“2QFY25”) and six months (“1HFY25”) financial results for the period ended 31 December 2024. There are no comparative figures for the preceding year’s corresponding individual and cumulative quarter as this is the second interim financial report being announced in compliance with the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad.

In 2QFY25, Sorento Capital reported a revenue of RM49.7 million, with profit before tax (“PBT”) of RM9.8 million and profit after tax (“net profit”) of RM7.0 million. This translates to a PBT margin of 19.7% and a net profit margin of 14.1%.

For 1HFY25, Sorento Capital recorded revenue of RM94.8 million, with PBT and net profit of RM17.1 million and RM12.0 million, respectively. On an adjusted basis, after excluding one-off IPO listing expenses of RM3.1 million incurred during the year, the Company’s adjusted PBT and net profit would have been RM20.2 million and RM15.1 million, representing a PBT margin of 21.3% and a net profit margin of 15.9%.

During the quarter, the Company has proposed an interim single-tier tax-exempt dividend of 0.5 sen per ordinary share for the financial year ending 30 June 2025 (“FY25”), which will be paid on 21 March 2025.

Managing Director of Sorento Capital, Mr. Loo Chai Lai (吕再来) said, “Malaysia’s construction sector continues to gain strong momentum, with the total value of construction work rising 20.2% year-on-year to RM158.8 billion in 2024, according to the Department of Statistics Malaysia. This positive outlook presents significant opportunities for Sorento Capital as we actively expand our dealer network and strengthen our presence in the project-based sales segment. With our strong brand positioning in the property sector, we are well-positioned to meet the growing demand for premium bathroom and kitchen sanitary ware products at competitive prices.”

“As part of our strategic growth initiatives, we are focused on expanding our distribution network by onboarding approximately 200 new dealers over the next three years. This expansion will not only enhance our market reach but also strengthen brand recognition across Malaysia, creating new business opportunities.”

“While our current project-based sales are primarily driven by residential developments, we are actively expanding into other building segments, including affordable housing, hotels, and office buildings. By targeting both new construction and renovation projects, we aim to further diversify our revenue streams and capitalise on emerging market opportunities. Since our listing, we have also been actively engaging with numerous G7 contractors and architects to broaden our projectbased sales portfolio, reinforcing our position in the industry.”

“With a strong market presence and a clear expansion strategy, we are well-positioned to capitalise on industry growth while continuing to create long-term value for our stakeholders,” Mr. Loo concluded.

To recap, Sorento Capital was listed on the ACE Market of Bursa Securities on 28 October 2024 and has successfully raised a total of RM57.4 million.

About Sorento Capital Berhad

Sorento Capital Berhad (“Sorento Capital”), through its subsidiaries, is principally involved in the marketing, distribution and sale of bathroom and kitchen sanitary wares. They have an extensive range of bathroom and kitchen sanitary ware products under their house brands, namely the flagship brand ‘Sorento’, as well as ‘Mocha’, ‘Cabana’ and ‘i-Born’. They are also the authorised distributor for foreign luxury third-party brands of bathroom and kitchen sanitary ware products, namely ‘Bravat’ branded sanitary wares (non-exclusive distributor) and ‘Infinity’ branded sanitary wares (exclusive distributor) in Malaysia.

For more information, please log on to https://www.sorento.com.my/


Released on behalf of Sorento Capital Berhad by Capital Front Investor Relations.

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Dwayne Teng
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