Hup Seng Sees Double-Digit Growth Moving Forward
Hup Seng Sees Double-Digit Growth Moving Forward
The company's revenue for the third quarter of 2024 (3Q24) climbed to RM104.4 million, up 10.9% YoY, supported by strong domestic and export demand, which also benefitted from production efficiencies. A new commercial oven has bolstered production capacity, enabling Hup Seng to meet growing demand across retail and modern trade channels, with notable export growth in key markets like Saudi Arabia, Indonesia, Japan and Singapore.
Hup Seng Industries Bhd maintained a cautiously optimistic outlook, backed by stable demand for its products and a shift in Malaysian consumer preferences towards local brands. The company's strong net cash position provides resilience against potential challenges, while a steady dividend payout continues to attract investors.
Hup Seng Industries Bhd保持了謹慎樂觀的前景，這得益於對其產品的穩定需求以及馬來西亞消費者偏好向本地品牌的轉變。該公司強勁的淨現金狀況爲抵禦潛在挑戰提供了彈性，而穩定的股息支付繼續吸引投資者。
However, rising input costs, particularly for palm oil and other essential raw materials, could present margin pressures going forward.
但是，投入成本的上漲，尤其是棕櫚油和其他必需原材料的投入成本的上漲，可能會帶來未來的利潤壓力。
MIDF Amanah Investment Bank Bhd (MIDF Research) has reaffirmed a NEUTRAL stance on Hup Seng, keeping its target price unchanged at RM1.04, indicating a potential downside of 5.9%. MIDF Research expects a total return of 2.26%, with a projected dividend yield of 3.6%. Hup Seng's solid performance over the first nine months of the financial year 2024, including a 27.2% year-on-year (YoY) rise in core profit after tax and non-controlling interests (PATANCI) to RM40.7 million, has largely met expectations.
MIDF Amanah投資銀行有限公司（MIDF Research）重申了對Hup Seng的中立立場，將目標價格維持在1.04令吉不變，這表明潛在的下行空間爲5.9％。MIDF Research預計總回報率爲2.26％，預計股息收益率爲3.6％。Hup Seng在2024財年前九個月的穩健表現，包括稅後核心利潤和非控股權益（PATANCI）同比增長27.2％，至4070萬令吉，在很大程度上達到了預期。
The company's revenue for the third quarter of 2024 (3Q24) climbed to RM104.4 million, up 10.9% YoY, supported by strong domestic and export demand, which also benefitted from production efficiencies. A new commercial oven has bolstered production capacity, enabling Hup Seng to meet growing demand across retail and modern trade channels, with notable export growth in key markets like Saudi Arabia, Indonesia, Japan and Singapore.
該公司2024年第三季度（第三季度）的收入攀升至10440萬令吉，同比增長10.9％，這得益於強勁的國內和出口需求，這也受益於生產效率。新的商用烤箱提高了生產能力，使Hup Seng能夠滿足零售和現代貿易渠道不斷增長的需求，沙特阿拉伯、印度尼西亞、日本和新加坡等主要市場的出口顯著增長。
Quarter-on-quarter, Hup Seng's 3Q24 core PATANCI rose by 86.5%, driven by a 30% increase in revenue. The company declared a second interim dividend of two sen per share and a special dividend of one sen per share during the period, rewarding shareholders amid improved financials. Enhanced profitability from lower input costs, particularly sugar, contributed to a higher gross profit margin of 31.4%, up from 29.6% in 3Q23.
受收入增長30％的推動，Hup Seng的24第三季度核心PATANCI同比增長了86.5％。在此期間，該公司宣佈第二次派發每股兩仙的中期股息和每股一仙的特別股息，在財務狀況改善的情況下獎勵股東。較低的投入成本（尤其是糖）所帶來的盈利能力的提高，使毛利率從23年第三季度的29.6％上升至31.4％。
Looking forward, MIDF Research forecasts steady revenue growth for Hup Seng, expecting RM377.7 million in FY24 and projected to reach RM407.4 million by FY26.
展望未來，MIDF Research預測Hup Seng的收入將穩步增長，預計24財年收入將達到37770萬令吉，預計到26財年將達到40740萬令吉。
Despite the rising input costs that could affect profitability, the company's consistent dividend yields, forecasted at 4.8% for FY24 and rising to 5.9% by FY26, underscore its appeal for income-focused investors.
儘管投入成本上漲可能會影響盈利能力，但該公司穩定的股息收益率預計爲24財年4.8％，到26財年將升至5.9％，這凸顯了其對以收益爲重點的投資者的吸引力。
譯文內容由第三人軟體翻譯。
