CUCKOO International recorded RM185.5 million in profit after tax (PAT) for the calendar year ending 31 December 2021, delivering its seventh consecutive year of topline growth amidst a challenging market backdrop with a 44% year-over-year increase from 2020.
Coming off a record-breaking year, CUCKOO International is optimistic about its 2022 prospects with solid business strategies.
At the end of the fiscal year 2021, CUCKOO International achieved over RM1.13 billion in revenue in the Malaysian market, largely driven by positive growth and key product launches in the same year. The overall solid financial results in the past year, combined with CUCKOO International’s commitment to pushing the boundaries of its capabilities, empowered over 1.4 million homes and 4.7 million household users with healthier solutions that are Beyond Standards. At the same time, the company has established more than 640 branches nationwide since its inception in 2014.
“Our strong finish to fiscal 2021, including record-setting revenue growth, is propelled by strong demand of healthier offerings/solutions made affordable and accessible through our flexible subscription model concept. To meet this demand, we have developed various subscription plans to provide customers with a variety of affordable payment options that enabled a low barrier to entry. In fact, more than 90% of our customers subscribed to rental-based services, which has further accelerated our business momentum and growth across the country,” CUCKOO International Founder & CEO, Mr KC Hoe commented on the performance.
“Our solid financial achievements in the past year is a testament to our unwavering commitment to delivering sustainable growth at scale with continued momentum across each business pillar. Moreover, the introduction of various innovative healthy home solutions at the peak of the pandemic, had showcased the company’s remarkable resilience and its ability to understand customers’ demand for healthier living during these unprecedented times,” added Mr KC Hoe.
CUCKOO International and homegrown air-conditioning manufacturer Fujiaire has inked a Memorandum of Agreement (MoA) to create a comfortable indoor atmosphere for Malaysians.
This strategic partnership will see both parties leveraging the expertise of each other in the development of the air-conditioning system and is projected to bring in over RM40.7 million in revenue under the Healthy Living pillar in the next year.