Ms. Li Peng Leck, Executive Chairperson and Executive Director of Davis Commodities, commented, "Our performance is shaped by fluctuations in commodity prices and shipping costs. We view certain unfavorable circumstances as transient. Through our well-established logistics supply chain, our goal is to alleviate the effects of these fluctuations. Moreover, we are committed to broadening our market presence, not only by reinforcing our market shares in the existing markets but also by considering venturing into new territories in an effort to expand our market share and reduce regional risks. Additionally, we intend to leverage the longstanding relationships we have with our business partners to capitalize on opportunities in emerging markets."
First Half of Fiscal Year 2025 Financial Highlights
•
Revenue was $95.0 million for the six months ended June 30, 2025, compared to $66.9 million for the same period of the last fiscal year.
•
Gross profit was $2.6 million for the six months ended June 30, 2025, compared to $2.9 million for the same period of the last fiscal year.
•
Loss from operations was $0.2 million for the six months ended June 30, 2025, which decreased by 116.6% from $1.1 million for the same period of the last fiscal year.
•
Net income was $0.04 million for the six months ended June 30, 2025, which decreased by 96.9% from $1.3 million for the same period of the last fiscal year.
•
Basic and diluted earnings per share were $0.01 for the six months ended June 30, 2025, compared to $0.05 for the same period of the last fiscal year.
Revenue
Total revenue was $95.0 million for the six months ended June 30, 2025, which increased by 42.11% from $66.9 million for the same period of the last fiscal year. This increase was mainly attributable to a increase in demand for liquid sugar from our customers, compared to the same corresponding period.
For the Six Months Ended June 30,
2024 (US$'000)
2025 (US$'000)
($ thousands)
Revenue
Cost of Revenue
Gross Margin
Revenue
Cost of Revenue
Gross Margin
Sale of sugar
44,891
43,760
2.5
%
60,772
59,851
1.5
%
Sale of rice
13,964
12,965
7.2
%
19,732
18,833
4.6
%
Sale of oil and fat products
8,021
7,234
9.8
%
14,519
13,714
5.5
%
Sale of others
-
-
-
13
8
38.5
%
Total
66,876
63,959
4.4
%
95,036
92,406
