Spring Art Holdings Bhd 2023 AR2
The report highlights Spring Art Holdings Berhad's financial and operational performance for the fiscal year 2023. The company achieved a 24.1% increase in overall revenue to RM56.23 million, driven by a rebound in retail expenditure and increased consumer spending power, particularly in the Middle East and North American markets. Profit after tax also rose significantly to RM5.49 million, up from RM2.17 million in the previous year. Operationally, the company progressed with the construction of Factory C, which is expected to increase its annual manufacturing capacity to 674,000 units upon its completion in the second quarter of 2024. Additionally, the company continued its transition of leadership responsibilities to a younger generation as part of its ongoing transformation program.
Company: Spring Art Holdings Bhd
Sector: Manufacturing
Country: Malaysia
Year: 2023
Type: AR2
Pages: 22
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Spring Art Holdings Bhd
Annual Report
The report highlights Spring Art Holdings Berhad's financial and operational performance for the fiscal year 2023. The company achieved a 24.1% increase in overall revenue to RM56.23 million, driven by a rebound in retail expenditure and increased consumer spending power, particularly in the Middle East and North American markets. Profit after tax also rose significantly to RM5.49 million, up from RM2.17 million in the previous year. Operationally, the company progressed with the construction of Factory C, which is expected to increase its annual manufacturing capacity to 674,000 units upon its completion in the second quarter of 2024. Additionally, the company continued its transition of leadership responsibilities to a younger generation as part of its ongoing transformation program.
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Document Details
Report Year
2023
Reporting Period
Jan 1, 2023 - Dec 31, 2023
Fiscal Year
2023
Published
Jun 13, 2024
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
No data available