KUALA LUMPUR (Dec 26): SSF Home Group Bhd, which listed in October 2023, saw revenue in the second quarter ended Oct 31, 2023 (2QFY2024) fall 20.3% quarter-on-quarter (q-o-q) to RM31.23 million, from RM39.31 million, due to lower sales contribution from retail outlets.

It booked a net loss of RM3.64 million or 0.57 sen per share in 2QFY2024, compared with a net profit of RM2.65 million or 0.44 sen per share in 1QFY2024, mainly due to one-off listing expenses of approximately RM3.2 million incurred for the current quarter.

For the six months ended Oct 31 (6MFY2024), SSF had a net loss of RM995,000 or 0.16 sen per share on a revenue of RM70.63 million.

Moving forward, SSF intends to open more retail outlets to various towns and cities in Malaysia, in particular the northern and southern regions.

“Additionally, in order to further strengthen and expand its market share with new customers, the group will continuously launch additional rewards and promotional activities for its existing and new members.  

“The group’s SSFHOME mobile application will be upgraded to include improved user interface with web view access, new payment module to enable purchases to be made over the mobile application and integration to the Group’s new enterprise-wide resource planning system,” it said.

“The group expects that the addition of payment module and improved user interface will enable them to expand their reach and provide customers with an increased channel to purchase the group’s products,” it added.

Shares in SSF finished half a sen or 2.04% higher to 25 sen, unchanged from its initial public offering (IPO) price. At its close, the group had a market capitalisation of RM196 million.