Cropmate Berhad (“Cropmate” or the “Company”), a key player in the conventional and specialty fertiliser manufacturing industry in Malaysia, announced its financial results for the first quarter ended 31 March 2025 (“Q1 FY2025”), reporting robust growth in revenue and profitability with 60.9% growth in Profit Before Tax (“PBT”).
This marks the Company’s maiden quarterly report since its listing on the ACE Market of Bursa Malaysia Securities Berhad on 5 December 2024.
For Q1 FY2025, Cropmate posted revenue of RM48.6 million, representing a 34.6% increase from RM36.1 million recorded in the preceding quarter. The revenue growth was primarily driven by higher sales volume, particularly from the oil palm plantations and durian orchards.
The Company also registered a 60.9% surge in PBT to RM5.0 million in Q1 FY2025, compared to RM3.1 million in Q4 FY2024. The strong performance was attributed to improved sales and a more favourable product mix with higher gross profit margin. As a result, the gross profit margin rose to 19.1%, up from 15.6% in Q4 FY2024, reflecting a growth of 22.4%.
98.7% of Cropmate’s revenue was contributed by domestic sales, with the balance coming from exports to markets including Singapore, Indonesia, Vietnam, and Sri Lanka.
Managing Director of Cropmate Berhad, Mr. Lee Chin Yok, commented, “Our first quarterly performance in financial year 2025 reflects the resilience of our business and the growing demand for high-quality fertilisers. As we move forward, we remain committed to scaling our operations, enhancing product innovation, and delivering long-term value to all stakeholders.”
As at 31 March 2025, the Group maintained a solid financial position with cash and bank balances of RM7.2 million and short-term investments of RM40.3 million. Net assets per share stood at RM0.12.
Out of the RM42.0 million raised from the Company’s IPO, RM22.3 million has been utilised to date, mainly for working capital, capital expenditure, and listing-related expenses. The Company is progressing with its planned acquisition of Factory Lots 8949 and 8950, which forms part of its strategic expansion initiatives.
Looking ahead, Cropmate remains cautiously optimistic. “While we are pleased with the momentum, we remain mindful of the macroeconomic landscape and external headwinds affecting the agriculture sector. Nevertheless, our fundamentals remain strong, and we are well-prepared to navigate challenges with resilience and agility.” Mr. Lee added.
For more information, visit https://www.cropmate.com.my/
