MYMBN Berhad recorded revenue of RM8.65 million for Q3FY2023 and RM23.12 million for Q2FY2023, representing a decrease of revenue by 62.60% in Q3FY2023 as compared to Q2FY2023, which it said was due to lower demand of raw unclean edible bird’s nest (“RUCEBN”) from the PRC.
The group debuted on the ACE market in July this year with its IPO share oversubscribed by 30 times, the share price rose 33% on the opening day.
For its latest financials, the group’s saw its gross profit decrease by RM2.96 million or 93.60% adding that it was a result of lower average selling prices of RUCEBN mainly due to lower sales in Guan and Tian series which typically commands
higher gross profit margin.
The Group registered LBT of RM1.57 million for Q3FY2023 as compared PBT of RM2.34 million which is mainly due to the one-off listing expenses of approximately RM0.7 million for Q3FY2023 coupled with a decrease in revenue.
B2.
Moving forward, MYMBN said it has completed the acquisition of 80% equity interest in Guangxi Nan Yang Birdnest (M) Co., Ltd on 28 July 2023 which it says will assist the group to venture into the processing and sale of raw clean edible bird’s nest.
It is cautiously optimistic on the financial performance in the remaining period for the financial year 2023 as it expects higher demand during the upcoming festive and holiday periods.
