KUALA LUMPUR: CAB Cakaran
Corp Bhd is eager to kick off its long-awaited expansion in Indonesia with partner and shareholder Salim Group in 2025, following delays caused by the pandemic.
“We remain very excited about our venture in Indonesia with the Salim Group, our partner and shareholder. After some years of delay due to the pandemic, 2025 will be the year our much anticipated Indonesian expansion begins,” group managing director Christopher Chuah Hoon Phong said in a statement.
In the first quarter ended Dec 31, CAB posted a 26.6% lower net profit of RM28.2mil, or earnings per share of 4.02 compared with RM38.4mil, or 5.47 sen achieved a year ago.
Revenue for the quarter rose 8.2% to RM593.6mil against RM548.5mil posted in the year-ago quarter, largely due to increased sales volumes of chicks, feed, and processed chickens, along with higher average selling prices for broilers.
The group’s financial position remained strong, with CAB’s cash position standing at RM188.06mil as of the period.
“We are proud of our first quarter results for 1Q25 as we have been operating totally without subsidies over the last one year. The growth of 76% in our profit before tax numbers, if excluding subsidies in the previous period, show that we can are efficient and can thrive without subsidies.
“We started as a broiler company, but today, we are an integrated food company. We also have the food processing and retail divisions, which are both growing fast. Due to strong demand, we now have three food processing factories.
“On the retail side, today we have 15 retail outlets under the Home Mart and Jaya Gading brand name. The growth and reception have been encouraging. We aim to have 50 to 100 outlets over the next five years,” Chuah said.
