Gelonghui, March 27 | Yefeng Group (01695.HK) announced that the Group confirmed revenue of approximately MYR 85.22 million for the 2023 fiscal year, a decrease of about 7.00% or MYR 6.41 million from approximately MYR 91.62 million in FY2022. The decline in earnings was mainly due to lower sales of coconut milk powder and coconut milk.

In fiscal year 2023, the Group recorded a loss of MYR 1.80 million after tax, while in fiscal year 2022 it recorded a loss of MYR 0.89 million after tax, mainly due to increased operating expenses and impairment losses.