BONIA 9288 Share Price

The Group achieved a 14.9% increase in revenue. The growth was primarily attributable to the successful rebranding initiatives, the opening of new boutiques during the financial year, and the low base effect in Q1FY2022 as a result of the nationwide lockdown due to COVID-19 pandemic. the Group reported a net profit of RM62.6 million for the financial year, an increase of 19.1% from RM52.6 million reported in FY2022. The Group will maintain a strategy focused on continuously strengthening the desirability of its brands through product innovation and marketing campaigns. The Group will be launching the full ready-to-wear product line for our BONIA Fall/Winter 2023 collections. There will be more cross-over collaboration with other brands to create specific products to open new, complementary markets to increase the brand reach. In addition, the Group will be engaging international celebrity endorsement to boost brand awareness, enhance credibility and gaining visibility for brands.

The Group recorded lower revenue in 1Q2023 of RM91.7 million, as compared to RM101.1 million achieved in 4Q2022. The lower revenue was primarily due to the historical strong sales during the festive seasons, being the Hari Raya celebrations in the last quarter. The special one-off withdrawal of RM10,000 allowed for EPF members in Malaysia from 20 April 2022 also contributed higher sales during the last quarter. The Group reported a profit before tax of RM18.6 million for the quarter, a 10.4% decrease from the immediate preceding quarter in line with the reduction in revenue.

The lower revenue recorded in 3Q22 contributed to the lower profit before tax of RM15.7 million in 3Q22 as compared to RM22.4 million achieved in 2Q22. This was primarily due to the historical strong second quarter for the year-end festivities shopping, coupled with the strong rebound of revenue in 2Q22 as a result of the reopening of economic activities in Malaysia from the nationwide lockdown. In addition, the emergence of Covid19 Omicron variant in February 2022 in Malaysia and Singapore has a knee-jerk reaction where the footfall traffic to the shopping malls suffered a short-term decrease before normalised in March 2022.

The Group”s reported LBT of RM2.7 million from the PBT of RM2.6 million in the immediate preceding quarter was primarily due to the lower sales activities during the quarter while still incurred fixed overheads.

In Financial Year End 2020, the directors’ remuneration was 9.22 million. It was fair compared to average in listed companies, considering the employees’ remuneration of 77.8 million and auditor’s remuneration of 784 thousands

For the quarter under review, the Group registered a revenue of RM86.2 million and loss before tax of RM0.03 million as compared to the revenue of RM128.2 million and PBT of RM13.2 million reported in the immediate preceding quarter. The lower revenue and PBT achieved in the current quarter mainly due to the impact of the outbreak of COVID-19 pandemic as well as a net provision for impairment loss on trade and other receivables amounting to RM2.4 million for the current quarter

In Financial Year End 2019, the directors’ remuneration was 11.84 million. It was slightly high compared to average in listed companies, considering the employees’ remuneration of 97.3 million and auditor’s remuneration of 791 thousands