Manufacturer and distributor of animal health and nutrition products, Yenher Holdings Berhad reported a 52.2% increase in revenue to RM102.2 million for its second quarter ended 30 June 2022 (“Q2 FYE2022”) from RM67.2 million a year ago on higher sales of commodities, vitamin, minerals and feed additive.
The revenue contribution from the distribution division increased significantly by 94.3% year on year to RM73.8 million, in line with the higher commodity sales and prices. The division made up 72.1% of the Group’s Q2 FYE2022 total revenue. The remaining RM28.5 million revenue came from the manufacturing division.
This translated to the Group’s net profit for Q2 FYE2022 rising by 2.4% to RM6.1 million from RM6.0 million in the previous corresponding quarter.
The balance sheet remained healthy with a net cash position of RM40.1 million and a gearing ratio of 0.06 times.
On the Group’s outlook, Yenher group managing director Cheng Mooh Tat said, “Despite uncertainties within the economic environment as well as volatile commodity prices and foreign exchange rates, we remain confident that the Group will continue to be profitable in the foreseeable future.
Moving forward, we will continue to play a role in enhancing Malaysia’s food security as an animal healthcare solutions provider with strong research and development capabilities and backed by an experienced management team. As we manufacture our proprietary nutritional premixes and distribute vitamins, vaccines and animal feed to poultry farmers, we are able to help reduce the risk of livestock contracting diseases and viruses.”
The Group declared its first interim dividend of 1.5 sen per share in respect of FYE2022, amounting to RM4.5 million. The date of entitlement for the dividend payment will be announced in due course.
