Qian Hu Corporation has reported an 87.7% y-o-y decline in earnings for the 1HFY2025 ended June 30 of $31,000.
The integrated fish service provider’s revenue for the reporting period came in marginally lower at $35.1 million, down 0.2% y-o-y from the $35.2 million reported in the same period a year ago.
The group says that its earnings decline is primarily due to global economic uncertainty, rising operational costs and continued geopolitical challenges.
Across its three business segments — fish, accessories and plastics — the fish segment saw sales improvement by 5.3% y-o-y in 1HFY2025 driven by a diversified customer base and increased demand across its broader product range and offerings.
Its accessories segment saw sales falling 3.9% y-o-y due to cautious buying in some overseas markets like China. Customers were generally more vigilant in their procurement amid the ongoing trade disruptions, geopolitical tensions and economic uncertainty, Qian Hu says.
Likewise, the plastics segment saw a 4.4% y-o-y decline in sales. During this period, its customer base remained stable as Qian Hu focused on generating revenue from products with sustainable margins, including essential items used in healthcare and waste management sectors, as well as products for the hospitality industry.
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The group’s earnings per share for the 1HFY2025 declined to 0.03 cents from 0.22 cents a year ago. Net asset value per share for the period declined to 34.46 cents.
As at June 30, the group’s cash and cash equivalents stood at $14.1 million.
The group says that barring unforeseen circumstances, it expects to maintain profitability in the 2HFY2025.
Shares in Qian Hu closed flat at 15.1 cents on July 18.
