SSF Home Group Berhad (“SSF” or the “Group”), a well-known retailer in furniture, home décor, and home living products, has announced its financial results for the third quarter of the financial year ending 30 April 2025 (“Q3 FY2025”). The Group recorded a 31.1% quarter-on-quarter (“QoQ”) revenue growth, increasing from RM30.09 million in Q2 FY2025 to RM39.45 million, driven by strong festive season sales and contributions from new store openings.
On a year-on-year (YoY) basis, revenue grew by 4.6%, compared to RM37.71 million in the corresponding quarter of the previous year (“Q3 FY2024”). The sustained revenue growth reflects the Group’s expanding retail footprint, with 47 stores nationwide from 41 stores as of the end of Q3 FY2025.
Despite higher revenue, the Group’s Profit Before Tax (“PBT”) for Q3 FY2025 stood at RM1.06 million, marking a decline from RM3.10 million in the same quarter last year. The decrease was primarily due to lower gross profit margin, coupled with higher depreciation charge of Right-of-Use assets derived from new retail outlets during the quarter. However, on a QoQ basis, PBT rebounded 142.9%, rising from a Loss Before Tax (“LBT”) of RM2.47 million in Q2 FY2025, reflecting improved sales momentum and operating efficiencies.
In line with its strategic expansion roadmap, SSF Home Group has continued strengthening its retail footprint and digital presence. The launch of its flagship SSFHOME Garden outlet in Glenmarie, Shah Alam in December 2024 marked a milestone in enhancing the Group’s customer experience with a more immersive retail concept.
Additionally, SSF entered into a Memorandum of Understanding (“MoU”) with Rumah Ibu Sdn Bhd on 7 February 2025 to collaborate on the Rumah Ibu Scheme, an affordable housing initiative for at least 35,000 landowners under Rancangan Perkampungan Tersusun (RPT) in Perak. Depending on the home model, SSF will supply kitchen cabinets worth RM1,500 to RM5,000 and furniture vouchers up to RM5,500. Rumah Ibu will procure these furnishings directly from SSF, with payment upon successful delivery and installation. This partnership supports SSF’s mission to make home and living solutions more accessible to a broader community.
Furthermore, on 27 February 2025, SSF signed an MoU with Haqqi Mall to become the anchor tenant merchant on the e-commerce portal owned by Koperasi Tabung Haji Bhd (“KTHB”). This partnership strengthens SSF’s presence in the digital retail space and allows the company to tap into the Muslim consumer market by offering a wide range of home furnishing solutions through Haqqi Mall’s ecosystem.
Mr. Lok Kok Khong, Executive Director of SSF Home Group Berhad commented, “Our continued expansion and strategic partnerships reinforce our position as a key player in the home and living retail segment. The revenue growth and quarter-on-quarter profit recovery further demonstrate our resilience. We are confident that our strong market presence, new store openings, and digital initiatives will position us well for long-term success.”
He added, “Moving forward, we will remain focused on enhancing our retail network, strengthening our digital capabilities, and capitalising on positive consumer spending trends. With an optimistic economic outlook and continued demand for home and living products, we believe SSF is well-positioned to achieve sustainable growth.”
As at 20 March 2025, SSF’s share price closed at RM0.375, with a market capitalisation of RM300 million.
