Main market-bound golfing equipment retail group, MST Golf released its Q1 result for the year reporting revenue of approximately RM86.29 million mainly derived from the retail segment, which contributed RM61.59 million or 71.37% to the total revenue.
The group said this was followed by the wholesale segment of RM21.03 million or 24.37% and golf services segment of RM2.44 million or 2.83% and the indoor golf segment of RM1.23 million or 1.43%. With the launch of new golf club products in the first quarter of the year, the initial sell-through of new products to the wholesale dealers is usually higher.
The Group registered gross profit of RM37.20m with a gross profit margin of 43.11%, profit before tax of RM11.78 million, and net profit after tax of RM8.79 million with a net profit after tax margin of 10.19%.
There are no comparative figures for the immediate preceding quarter as this is the first interim financial report announced by MST Golf Group Berhad.
Looking forward, MST is optimistic about its prospects post Covid-19, given the current state of golfing activities including the growing landscape of corporate golf tournaments in the market. With the availability of locations and favourable rental terms, including major shopping malls, the Group sees growth opportunities in Malaysia and Singapore aligning with its expansion plans.
