19 ANNUAL REPORT 2023 MST GOLF GROUP BERHAD GETTING TO KNOW OUR CUSTOMERS BETTER As we expand, we are cognisant that data about our customers and our ability to translate that into actionable insights will be key to our business continuity. In this context, we introduced our ilovegolf loyalty programme more than 18 years ago and have since built our membership base to more than 140,000 across Malaysia and Singapore. The programme tracks purchasing history and customer preferences, which are crucial to ensuring that our marketing efforts and the products and services we offer are aligned. As 70% of our retail sales from our Malaysia and Singapore operations originate from ilovegolf members, this database is a key asset to MST Golf. Part of the proceeds of the listing will in fact be used to upgrade our systems to cater for future growth and to leverage data analytics to obtain more insights into consumer trends. DELIVERING RESULTS This financial year saw companies adjusting to post-pandemic realities such as geopolitical upheaval, moderating economic growth and higher inflation. It was no different for the golf retail industry, as we had to navigate a slight moderation in demand following the incredible boom in business that occurred during the COVID-19 period. We were fortunate that social distancing rules and travel lockdowns turned golf into the game of choice for many, including celebrities and their followers, which have also increased the number of younger people playing the game. Therefore, although topline growth may not have been as impressive as previous years, we are of the view that it is a solid performance and that the higher base we are operating from bodes well for the future. The continued expansion of MST Golf both locally and regionally will also provide further upside going forward. REWARDING SHAREHOLDERS WITH DIVIDEND The Company has a dividend payout commitment of 30% of net profit for the year attributable to the shareholders as dividends. The first interim single-tier dividend of 0.5 sen per share was declared in the third quarter and the second interim single-tier dividend of 0.5 sen per share in the fourth quarter in respect of the financial year ended 2023. The total dividend payout amounted to 1.0 sen per share, or RM8.2 million, was declared for the reporting period. This payout translates to about 46.6% of net profit for the year attributable to the shareholders. FY2023 HIGHLIGHTS GROUP REVENUE RM325.4 million +8.2%* GROSS PROFIT RM142.9 million +10.6%* DIVIDEND PER SHARE 1.0 sen NORMALISED PATAMI RM22.0 million * FY2023 vs FY2022
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