QL Resources cautiously optimistic on FY24 performance

TheStar Tue, May 30, 2023 06:09pm - 4 months View Original

KUALA LUMPUR: QL Resources Bhd is cautiously optimistic that its business performance will remain resilient for the new financial year ending March 30, 2024 (FY24).

“The recovery momentum from past few quarters and our continued focus in driving operational efficiency coupled with the scheduled opening of new convenience store chain (CVS) outlets together will help to cushion the adverse effects from the above-mentioned challenges,” QL said in a Bursa filing.

QL noted that its core businesses are food related which are generally sensitive to consumer sentiment and changes in government policy.

“Current high interest rate environment and rising cost of living are expected to dampen consumer sentiment. In addition, the upcoming changes to Malaysia's egg and chicken cost subsidy scheme to market-driven pricing mechanism and volatile commodity prices may impact the performance of integrated livestock farming (ILF) segment,” it said.


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