The year 2025 presented significant challenges due to heightened economic volatility driven by trade and geopolitical tensions. Nevertheless, the world economy demonstrated considerable resilience, effectively adapting to external shocks.
Against this backdrop, it is imperative that the Group remains competitive by focusing on innovation, sustainability, and digital transformation. Additionally, PSC’s strategic priorities are to continue to strengthen our fundamentals – namely, our core brands –
such as Royal Umbrella, Fortune and Beautex.
In addition to product and brand development, PSC prioritizes operational efficiency and supply chain resilience. Efforts include building inventory resilience to manage market volatility and investing in employee training and development, especially in areas such as digitalization and artificial intelligence. These initiatives ensure we continue delivering consistent quality, affordability, and reliable supply across all product categories, including the continued expansion of the Good Fortune brand.
Market expansion remains a key focus, with plans to add new distribution opportunities both within Singapore and in regional markets. PSC aims to strengthen relationships with major retail channels and increase its presence in online and direct-to-consumer (D2C) spaces. These strategies, combined with sustainability initiatives like rice cultivation campaigns and upcycling projects, position PSC to meet evolving consumer needs while advancing environmental stewardship and community engagement.
In FY2025, our Group navigated a challenging environment, with net profit dipping 5.0% to S$21.6 million and total revenue sliding 2.4% to S$477.2 million. This was largely due to tougher competition and the depreciation of the Renminbi against the Singapore Dollar, which put pressure on our Packaging Business in China.
That said, I’m pleased to share that our core Consumer Business demonstrated resilience in both Singapore and Malaysia. Our gross profit margin held steady at 23.6%, and we ended the year with total assets up 1.4% at S$607.4 million. On a positive note, our cash and cash equivalents rose by 6.5%, reaching S$205.0 million as at 31 December 2025.
Looking ahead, we anticipate a tougher business landscape, with rising costs and ongoing global trade tensions likely to present further challenges.
For FY2025, the Directors have proposed a final dividend of 1.8 Singapore cents per share, bringing the total payout, including the interim dividend, to 2.0 Singapore cents per share.
Pending approval at the Annual General Meeting on 24 April 2026, the final dividend will be paid on 18 June 2026.
In our Consumer Business, competition remained intense with both multinational brands and retailer house brands expanding their presence. New government stockholding requirements and continual market changes in Singapore may further impact our results.
To address these challenges, the Group is focusing on building a more resilient supply chain across the region by strengthening relationships with suppliers and partners, diversifying supply networks, and tightening cost management.
Alongside expanding our own house brands, PSC is actively seeking additional agency products to meet market demands and extend our regional reach. At the same time, the Group aims to accelerate growth by leveraging on its trusted brands, a strong network, and continuous enhancements in operational performance.
A key milestone ahead is the completion of Fortune’s new manufacturing facility in Malaysia, expected to be operational by the second quarter of 2026. This expansion will increase production capacity of its leading soya bean products, noodles, and desserts, enabling deeper market penetration and stronger participation in Malaysia’s FMCG channels.
The Packaging Business continues to face a tough environment, as global trade is being reshaped by rising geopolitical tensions and ongoing tariff changes, adding to market instability. Additionally, overcapacity in China’s corrugated packaging sector is intensifying price competition. These pressures, along with potential increases in raw material costs, may directly affect our performance and profit margins.
To manage these difficulties, the Group will closely watch market trends and prioritise cost control, efficiency improvements, and automation throughout our operations. We will also strengthen our communication with current and potential customers to foster collaboration and seize long-term opportunities.
Across the Group, our priorities remain clear: enhance brand equity, improve productivity through automation, and optimise cost structures. With established brands, a trusted distribution network and a solid balance sheet, PSC is well positioned to remain resilient and capture growth opportunities.
As new ESG regulations come into play, we’re taking meaningful steps to boost our sustainable business practices. Working closely with expert consultants, we’ve laid out a comprehensive sustainability roadmap that covers everything from governance and decarbonisation to setting clear goals.
Our Board maintains strong oversight by conducting annual reviews of our sustainability reports, ensuring our progress aligns with
our sustainability objectives and regulatory expectations.
Beyond business performance, we are deeply committed to environmental stewardship and meaningful community involvement. The Group continues to support volunteerism, charitable partnerships, and upcycling initiatives with organisations such as Hao Ren Hao Shi and Food From The Heart. These initiatives reflect our dedication to making a positive impact on both society and the environment.
Looking ahead, the Group maintains a positive outlook regarding increasing consumption demand within the region. We will continue to capitalise on our comprehensive distribution network, marketing capabilities, and brand-building expertise to deliver high-quality products that address these evolving needs.
I wish to formally acknowledge the outstanding dedication and effort demonstrated by my fellow directors, the senior management team, and all members of staff, particularly given recent challenging circumstances.
Additionally, I would like to extend my gratitude to our customers, business partners, suppliers, and shareholders for their ongoing support. Together, we work towards continued success and growth as we navigate the quarters ahead.
