Synergy House Turns Profitable In Q2
Synegy House Berhad announced its financial results for the second quarter recording a profit before tax of RM1.8 million, a notable turnaround from a loss before tax of RM6.4 million in the corresponding quarter of the previous year. PAT was also notable with RM1 million achieved in the current quarter against a loss of RM4 million in 2QFY24.
Revenue for 2QFY2025 stood at RM69.0 million, representing a 10.9% decline year-on-year, primarily due to reduced contributions from the business-to-business (B2B) segment in the UK market.
The B2B segment registered RM26.9 million, a 24.3% decrease from the previous year, attributed to softer demand from the UK. This was partially offset by stronger sales from the USA.
The B2C segment demonstrated resilience, growing by 0.6% year-on-year to RM42.1 million, driven by higher sales in the UK.
PBT improved to RM1.8 million, compared to an LBT of RM6.4 million in 2QFY2024, due largely to the absence of a one-off provision for doubtful debts (RM10.3 million in prior year).
While the Group faced headwinds from an 8.3% decline in the USD/MYR exchange rate and foreign exchange losses (RM2.0 million in 2QFY2025 vs. RM0.9 million in 2QFY2024), it maintained profitability through proactive cost optimisation.
The Group recorded a RM0.4 million write-off in preliminary professional costs related to an earlier planned land development, showcasing disciplined financial housekeeping.
Year-to-Date Performance (1HFY2025):
Revenue reached RM157.0 million, a marginal 2.5% decline from the same period last year.
B2C revenue grew by RM7.8 million (9.1%), aligning with the Group’s strategic pivot toward direct-to-consumer channels.
PBT for 1HFY2025 was RM5.2 million, slightly lower than RM5.8 million in the prior year.
Operating expenses decreased by RM6.6 million, mainly from the absence of doubtful debt provisions, reinforcing improved financial discipline.
The Group also optimised its operations, reducing headcount by 3% and lowering advertising costs while improving return on ad spend.
