ACO Group Berhad has registered a revenue of RM 134.5 million in FY2020.
According to the electrical products distributor, 75 percent (RM 100.8 million) of the revenue is from the industrial users segment while the remaining 25 percent (RM 33.7 million) was contributed by the resellers segment.
Gross profit stood at RM 26 million with gross profit margin of 19.3 percent. Profit after tax was recorded at RM 7.8 million and during the year, the Group has recognised one-off listing expenses amounting to RM 1.8 million.
In the 4QFY20, the Group’s revenue stood at RM 30.4 million with profit after tax of RM 1.8 million, after recognising one-off listing expenses of approximately RM 0.5 million.
“We are pleased to deliver satisfactory results in FY2020. During the year, we made several notable developments such as the opening of our very first lighting concept store in Johor Bahru. This new venture marked our first expansion to the retail lighting segment and unlocked a new revenue stream for us,” said Tang Pee Tee, ACO Group’s Group Managing Director.
The Group has also stated that due to the ongoing Covid-19 outbreak and with the implementations of movement restrictions globally and across the nation, majority of their sales activities were put on hold and inevitably impacted their business operations.
As a result, the Group has accelerated their digitisation efforts, which includes improving inventory management system as well as their online ordering systems.
“This is a strategic approach for us, especially now, where customers are making purchases online in order to minimise physical contact. Albeit the challenging outlook, we remain steadfast on our expansion plans as we view this as a short-term setback for us. We believe the demand for our products will gradually return following the reopening of more and more economic sectors,” the Group said.