26-05-2025
- Business
- New Straits Times
Tiong Nam's earnings shrink, revenue jumps nearly 14pct in FY25
KUALA LUMPUR: Tiong Nam Logistics Holdings Bhd's net profit fell to RM41.5 million in the financial year ended March 31, 2025 (FY25) from RM57.3 million a year ago.
Tiong Nam said this was due to the higher fair value gains recorded in the previous year compared to the current quarter under review.
The results also reflected higher operating and finance costs associated with expanded warehouse assets.
However, Tiong Nam's revenue grew 13.8 per cent to RM863.6 million from RM758.6 million in FY24.
For the fourth quarter (Q4), Tiong Nam recorded a 305.4 per cent increase in net profit to RM43.0 million, up from RM10.6 million in the corresponding quarter last year.
It said the profit growth stemmed primarily from a positive fair value adjustment on investment properties,comprising its logistics warehousing assets.
"This was complemented by robust logistics and warehousing activity, contributing to an 18.2 per cent rise in group revenue to RM228.7 million in Q4 FY25 from RM193.4 million previously," it said.
Tiong Nam's logistics and warehousing services segment demonstrated strong top-line improvement, with revenue growing 21.5 per cent to RM218.3 million in Q4 FY25.
This was driven by increased business from existing and new domestic and multinational customers.
Managing director Ong Yoong Nyock said the company's logistics and warehousing operations demonstrated sustained performance, supported by resilient demand and growing customer relationships.
Ong said the company's network development was integral to enhancing its capabilities and enabling increased scale to meet rising market needs for integrated logistics solutions.
"This initiative advances our position as a leading total logistics solutions provider, ensuring efficient supply chains nationwide.
"We anticipate positive performance for FY26, underpinned by Malaysia's resilient economic growth.
"As regional trade strengthens and supply chains recalibrate across Asia, we are well-positioned to serve as a vital connection in logistics networks," he added.
