Qian Hu Corporation (BCV) H2 2024 earnings summary

Executive summary

• FY2024 returned to net profit attributable to shareholders of $356,656, versus a $9.277m loss in FY2023; revenue increased 1.6% to $71.418m.

• The result reflected higher Fish and Plastics sales, partly offset by lower Accessories revenue; gross profit rose 7.4% to $25.318m.

Financial highlights

• FY2024 revenue was $71.418m, up 1.6% YoY; gross profit was $25.318m, up 7.4%.

• Profit before tax was $620,000 versus a $8.969m loss in FY2023; net profit was $357,000 versus a $9.277m loss.

• 2H2024 revenue grew 0.8% YoY to $36.267m; gross profit rose 10.2% to $12.984m, and net profit was $106,000 versus a $9.307m loss.

Outlook and guidance

• FY2025 is expected to be another profitable year, barring unforeseen circumstances.

• Growth prospects include ornamental fish exports, edible seafood demand, sustainable pet products and biodegradable plastics; new regional markets are also a focus.