shopper360 reports 37% fall in 1H earnings to $0.96 mil on higher expenses from new subsidiaries

shopper360 reports 37% fall in 1H earnings to $0.96 mil on higher expenses from new subsidiaries

PC Lee
11/01/19, 05:42 pm

SINGAPORE (Jan 11): shopper360, the provider of shopper marketing services in the retail and consumer goods industries in Malaysia, reported a 37% decrease in 1H earnings to RM 2.9 million ($0.96 million) from a year ago.

The group’s 1H19 results was impacted by lower sales from Malaysia’s in-store media, higher costs of sales, and revenue from services which had lower gross margins.

Revenue for 1H19 increased 13% to RM 77.5 million primarily attributable to the increase in revenue contributions from the Sampling Activities and Events Management, and the Field Force Management segments, due to new projects from existing customers and new customers.

Cost of sales increased by 15% to RM 57.0 million in 1H19 largely in line with the increase in revenue which was due to higher business activities in the three segments. Furthermore, the services in the three segments have higher cost of sales compared to those of the In-Store Advertising and Digital Marketing segment.

Gross profit increased 6% to RM 20.5 million in 1H19. However gross profit margin declined from 28% in 1H18 to 26% in 1H19, largely due to increased revenue from projects that derived lower margins.

Other income increased 51% to RM 0.2 million in 1H19 mainly due to increases in interest income from deposits and gain from realised foreign exchange. There were no such gains in 1H FY2018.

Administrative expenses increased 28% to RM 16.6 million in 1H19 mainly due to expenses incurred by the two new subsidiaries, namely ShopperPlus Myanmar Co and Retail Galaxy as well as cost incurred for business expansion by Gazelle Activation and ShopperPlus.

shopper360 says it will continue to focus on driving sales through new and relevant services to enhance its offerings to the existing client base as well as to break into new industries and obtain new clients through new services.

Shares in shopper360 closed at 13.1 cents on Friday.

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