Envictus posts $15.3m net profit in 2024

This is a turnaround from a net loss of $9.9m in FY 2023.

Envictus International Holdings Limited (Envictus) reported a net profit of $15.3m (RM50.6m) for the full year ended 30 September 2024 (FY 2024), a turnaround from a net loss of $9.9m (RM32.9m) in the previous corresponding period (FY 2023).

According to a bourse filing, the group’s revenue rose by 21.3% to $207.6m (RM686.8m) in FY 2024 from $171.1m (RM566.1m) in FY 2023, due to the increased contributions from the Food Services and Dairies Divisions.

“Our continued expansion of the Food Services Division, with the addition of five new Texas Chicken outlets and four new San Francisco coffee cafes during the financial year, will further strengthen our market position,” said Dato’ Jaya Tan, group chairman of Envictus.

The Food Services Division’s revenue grew by 38.8% to $129m (RM426.7m) from $92.9m (RM307.4m), mainly driven by contributions from Texas Chicken restaurants in Malaysia.

Meanwhile, the group’s revenue from the Dairies Division increased by 17.6% to $39m (RM129.2m) from $33.2m (RM109.9m), supported by sales volume growth and market expansion.

The group’s gross profit margin improved by 5.7% to 44.6%, mainly contributed by the Food Services and Dairies Divisions.

The Food Services Division experienced a profit margin improvement driven by lower food costs and higher selling prices, whilst the Dairies Division benefitted from lower raw material costs and increased production output, resulting in better production yield.

($1 = RM3.31)