Hosen Group Ltd. Sees Revenue and Profit Growth in FY2024
Hosen Group Ltd. reported an 8.1% revenue increase to $72.8 million and a 14.1% rise in gross profit to $17.1 million for FY2024. Net profit surged to $2.28 million from $0.97 million, driven by strong sales in Malaysia. The company is enhancing operational capabilities and market development to tackle supply chain issues and changing consumer preferences, aiming for sustainable growth without specific revenue targets. Hosen Group operates in the food industry, focusing on canned food and chocolate products, with a market cap of S$13.97M and a current technical sentiment signal of Buy.
An update from Hosen Group Ltd. ( (SG:5EV) ) is now available.
Hosen Group Ltd. reported an 8.1% increase in revenue to $72.8 million and a 14.1% rise in gross profit to $17.1 million for the financial year ending December 31, 2024. The net profit also improved significantly to $2.28 million from $0.97 million in the previous year, driven by higher sales demand and volume, particularly in Malaysia. The company is focusing on strategic direction, operational capabilities, and market development to address challenges such as supply chain vulnerabilities and shifting consumer preferences, aiming for sustainable growth without setting specific numerical revenue targets.
More about Hosen Group Ltd.
Hosen Group Ltd., incorporated in Singapore, operates in the food industry, focusing on canned food and chocolate products. The company has a significant market presence in Malaysia and is known for its house brands.
YTD Price Performance: -14.00%
Average Trading Volume: 164,918
Technical Sentiment Signal: Buy
Current Market Cap: S$13.97M
See more insights into 5EV stock on TipRanks’ Stock Analysis page.
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