Farm Fresh Berhad has released its second quarter financial performance recording a 106% increase, year on year, in profit after tax to RM27.0 million on the back of a 25.6% revenue growth to RM249.2 million. This is its highest-ever quarterly revenue to date. The Group recorded a 104.7% increase in profit before tax to RM29.3 million and 104.7% leap in profit after tax and minority interest to RM26.2 million.

For the cumulative 6 months period, the revenue increased by 27.9% to RM490.9 million, PBT by 185.6% to RM57.7 million, PAT by 185.9% to RM53.5 million followed by its PATAMI's 172.3% increase to RM52.2 million over the preceding year's corresponding period.

The higher revenue was mainly driven by its Malaysian operations following higher sales from hotels, restaurants and cafes ("HORECA") and commercial UHT, coupled with positive responses from the launch of new products. Its gross margins during the quarter under review improved to 33.6% from the 26.3% recorded in the corresponding quarter mainly driven by reduction in input costs of dairy raw materials as well as contributions from Inside Scoop and Sin Wah.

This was in addition to the turnaround of our Australia operations by recording a net profit for the quarter, contributed by the improved margins from the higher production volume by our  Goulburn Valley Creamery Pty Ltd plant and lower Australia farmgate milk prices.