SENAI: Johor-based wholesaler and distributor of fresh vegetables, food and beverage (F&B) products and other groceries, Farm Price Holdings Bhd, recorded revenue of RM34.3 million for Q1 ended March 31, 2026 (FY26), representing a 15.2% year-on-year (YoY) growth from RM29.8 million in Q1 FY25.
The improved revenue performance was underpinned by contributions from its new subsidiaries, which expanded the group’s product offerings to include fruits, frozen foods, and other grocery products, and broadened its customer base.
The wholesale segment remained the key revenue driver, contributing 94.5% of total Q1 FY26 revenue, while the retail segment accounted for the remaining 5.5%.
Geographically, Malaysia accounted for 61.3% of total revenue, while Singapore’s share rose to 38.7% from 29.0% in the previous year, reflecting the group’s growing export momentum.
In line with higher revenue, gross profit (GP) for the quarter improved by 13.3% to RM7.0 million from RM6.2 million last year, while the GP margin remained healthy at 20.3%.
Nonetheless, net profit for the quarter was RM2.6 million, compared with RM2.5 million in Q1 FY25.
This was mainly due to higher operating expenses from consolidating new subsidiaries, which increased administrative costs.
On a quarter-on-quarter basis, revenue stood at RM34.3 million versus RM35.3 million in Q4 FY25, mainly attributable to softer demand from certain key customers during the quarter.
However, net profit rose by 29.2% to RM2.6 million in Q1 FY26 from RM2.0 million in Q4 FY25, mainly due to lower professional expenses incurred, as well as the absence of one-off expenses recognised in Q4 FY25, including loss on fair value of keyman insurance and goodwill written off.
Farm Price managing director Dr Lawrence Tiong Lee Chian said Q1 FY26 marked a positive start to the financial year.
He said the group is focused on optimising the operations of its new subsidiaries, which have further expanded its customer base and strengthened its regional presence, supported by expanded infrastructure.
“This is complemented by our ongoing investments in machinery for vegetable processing, which improved the group’s automation and value-added capabilities for pre-packed and fresh-cut vegetables.
“Nevertheless, we are cognisant of the prevailing geopolitical tensions, which may potentially contribute to supply chain disruptions and higher logistics costs.
“Farm Price is well-supported by an extensive sourcing network that provides resilience in securing supply, while diesel cost remains a marginal component of our cost of sales.
“The group will continue to implement operational and cost management measures to enhance efficiency and long-term business sustainability.
“Going forward, the group is positive of sustaining the growth momentum, supported by a growing customer base and contributions from our new subsidiaries.
“Furthermore, the expansion of our Centralised Distribution Centre, which is targeted to be operational by Q3 FY26, will further strengthen operating capacity and support future growth.
“Together with sustained demand from Singapore and a stronger operational foundation, we are optimistic about Farm Price’s prospects ahead,” Tiong said.
On the corporate front, Farm Price submitted its application to the Securities Commission Malaysia on February 6, 2026, for the transfer of its listing from the ACE Market to the Main Market of Bursa Malaysia.
The transfer reflects the group’s continued growth trajectory, strengthened operational scale and ongoing efforts to enhance corporate governance and market visibility.
Farm Price remained in a healthy financial position, backed by a net cash position and net assets per share of RM0.15 as at March 31, 2026.
The group also generated a positive net operating cash flow of RM3.7 million in Q1 FY26.
The Sun Malaysia
