Focus Point Holdings Bhd’s net profit (NP) rose 5.79% to RM6.03 million for the first quarter ended March 31, 2023 (1QFY2023) from RM5.7 million a year earlier, on the back of higher revenue.
Earnings per share rose to 1.31 sen from 1.23 sen in 1QFY2022, according to the group’s bourse filing. Focus Point declared an interim dividend of 1.5 sen per share, to be paid on June 30.
Quarterly revenue increased 14.97% to RM59.67 million from RM51.9 million previously, mainly attributed to its optical and related products segment. The segment recorded revenue of RM48.51 million, a 14.97% increase from RM41.82 million in 1QFY2022.
Meanwhile, revenue from its franchise segment rose 11.46% to RM1.07 million from RM959,000 due to higher royalty fees. Focus Point expects more inbound tourists to Malaysia from the lifting of travel restrictions that will boost retail sales.
“Moving forward, the group will continue to expand its outlets in strategic locations and prioritise on operational and cost efficiencies to sustain the growth momentum,” it added.
Focus Point is officially recognised by the Malaysia Book of Records as the largest optical retail chain store in Malaysia and also the first and only optical retail chain store to be listed in Bursa Malaysia.
With more than 180 outlets nationwide and more than 230 eye care professionals ready to serve you. Customers have a wide range of fashionable eyewear to choose from at the concept stores such as Focus Point, Focus Point Signature, Focus Point Concept Store, Focus Point Outlet, Focus Point Lifestyle, Whoosh, Opulence, Eyefont, Solariz and i-Focus.
In its aspirations to become a leading brand name in Asia through its focused approach in vision care, the rise in revenue is beckoned by 2 Main Growth Pillars, being Optical (Operation of professional eye care centers & retailing of optical related products) and Food & Beverages (Provision of food and beverages services, through barnds like Komugi.)
Laying the groundwork in FY2022, all channels besides e-commerce grew positively last year which was reported at a YoY sales growth of FY22 vs FY21 of Retail outlet (+46.7%), Corporate sales (+63.8%), Franchise sales (+33.4%) and E-commerce sales (-30.5%).
The rise in revenue was also due Focus Points continuous expansion strategy which saw ongoing initiatives to open 12 taregeted outlets in 2023, from 9 opened last year.
The F&B Segment also saw better performance this year based on positive growth in 2022 where YoY sales growth of FY22 vs FY21 was reported at Retail outlet (+59.2%), Corporate sales (+25.4%) and Franchise fee (+32.9%).
The retail outlets showed strong sales growth in FY2022 as footfall viewing to these outlets increased post-pandemic, said the company, adding F&B Corporate Sales grew strongly in tandem due to ongoing initiatives to expand corporate sales channel and increase utilisation rates of its dual Central Kitchen.
Focus Point plans to open another 2 F&B outlets this year based on the performance of the 3 opened in 2022.
