According to the Zhitong Finance App, Litmi (01936) announced the results for the year ended December 31, 2023. The group obtained revenue of RM118 million, a year-on-year decrease of 12.21%; profit attributable to the company's equity holders was RM11.418 million, an increase of 0.93% over the previous year; and profit per share was RM2.42 cents.
As revenue declined, the Group's gross profit decreased by approximately 18.4% from approximately RM32 million for the fiscal year ended December 31, 2022 to approximately RM26.1 million for the current fiscal year. The decline was mainly due to a drop in selling prices due to intense competition in the market. As a result, the Group's gross margin declined slightly from approximately 23.8% to approximately 22.2% for the fiscal year ended December 31, 2022 and 2023, respectively.