PETALING JAYA: After a soft start in the first quarter of financial year 2024 (1Q24), Sasbadi Holdings Bhd
is poised to see a pick up in sales in the coming quarters with the start of the new school term.
In 1Q24 (ended Nov 30, 2023), the publisher of education materials saw its revenue dropping 17.5% year-on-year to RM15.3mil mainly due to the lack of government contract contribution in the form of textbooks supply and Common European Framework of Reference for Languages (CEFR) digital solutions.
As a result , the group recorded a net loss of RM1mil in 1Q24 due to the higher fixed cost, while the Shopee voucher contributions were also lower-than-expected.
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