SSF Home Group Bhd is projecting a positive outlook for 2025, driven by its ongoing outlet expansion and the anticipated increase in consumer purchasing power resulting from initiatives in Budget 2025. This budget includes a significant RM13 billion cash transfer program aimed at enhancing the financial capacity of consumers [43eef0c0].
The company, which operates over 40 retail outlets, recently opened its 43rd outlet in Danga Utama, Johor Bahru, in August 2024, followed by its 44th outlet in Kota Kinabalu, Sabah, in October 2024. These expansions are part of SSF's strategy to capture a larger market share in the retail sector [43eef0c0].
For the second quarter of FY2024/25, SSF reported a revenue of RM30.090 million, reflecting a 3.9% decline compared to the same period last year. However, the company has managed to reduce its loss before tax to RM2.471 million, down from RM3.626 million in the previous year, indicating a potential turnaround in financial performance [43eef0c0].
Additionally, Budget 2025 outlines an increase in the minimum wage to RM1,700, effective February 2025, which is expected to further boost consumer spending power and positively impact retail sales [43eef0c0]. As SSF navigates these changes, its focus on expanding its retail footprint and adapting to the evolving economic landscape will be crucial for its success in the coming years.