KUALA LUMPUR (July 30): Electrical home appliances manufacturer Pensonic Holdings Bhd (KL:PENSONI) reported on Tuesday its biggest quarterly net loss since being listed on Bursa Malaysia in December 1995, no thanks to inventory write-downs.

Net loss for the company's fourth quarter ended May 31, 2024 (4QFY2024) was RM14.28 million, compared with RM712,000 for the same quarter a year earlier, Pensonic showed in a bourse filing. Revenue rose 8.33% to RM85.14 million from RM78.59 million.  

The company said the inventory write-downs in 4QFY2024 totalling RM6 million were made after considering the historical consumption and sales trend, ageing of the inventories and product life cycles.

No dividend was declared for the quarter.  

For the full financial year, Pensonic again posted its biggest net loss, totalling RM14.28 million. This compares with a net loss of RM3.04 million reported for FY2023.

This was despite full-year revenue rising 13.31% to RM309.57 million from RM273.20 million in FY2023.  

Moving ahead, Pensonic said its group chief executive officer Dixon Chew will introduce fresh initiatives aimed at driving product and service innovations through a transformation-led approach to meet customer demand.

“The group CEO took the bull by the horns, and reviewed the business operations of the group as a whole by streamlining processes, reducing costs and enhancing productivity,” the company said.

Shares in Pensonic settled one sen or 1.77% higher at 57.5 sen on Tuesday, valuing the company at RM87.6 million.