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Carlo Rino Group Berhad (“Carlo Rino” or “Company”), today announced its financial results for the first quarter ended 30 September 2024 (“Q1 FY25”), ahead of its scheduled transfer listing on the ACE Market on Bursa Securities Malaysia Berhad (“Bursa Securities”) (“ACE Market”) on 18 December 2024.
Carlo Rino recorded a total revenue of RM19.83 million, with the boutique distribution channel remaining the primary contributor to this performance. This channel continues to be the main driver of revenue for the Company and its subsidiaries (“Group”), highlighting its significance to the Group’s overall performance during the quarter. In Q1 FY25, the Company achieved a Profit Before Tax (“PBT”) of RM3.20 million, which reflects the deduction of approximately RM0.32 million in listing expenses incurred during the financial period under review.
Dato’ Sri Chiang Fong Yee, the Group Managing Director of Carlo Rino expressed the Carlo Rino Board’s optimistic outlook on the Company’s prospects in the fashion industry moving forward.
“While the outlook for the fashion industry in key markets in the Southeast Asia region remains positive, we are committed to approaching these opportunities with a measured and prudent strategy. Our management team remains focused on ensuring that the Group’s financial performance stays strong and sustainable for the long term. Looking ahead, we anticipate a positive performance throughout the year, aligned with our planned business expansion and upgrades, in conjunction with our transfer listing to the ACE Market.”
Carlo Rino is principally involved in designing, promoting, marketing, distributing and retailing of women’s handbags, footwear and accessories. The Group markets, distributes and sells its products via three distribution channels: Carlo Rino boutiques, departmental store counters, and e-commerce platforms.
The Company is scheduled to be listed on the ACE Market on 18 December 2024. TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for the IPO.
