Gedebush! Farm Fresh Spilled On The Floor RM1.00

<p>&nbsp;Investor uncertainty after a dismal financial report has pushed Farm Fresh Bhd's shares lower below the initial public offering (IPO) price of RM1.35.</p><p><br /></p><p>As of 12 noon, Farm Fresh shares fell 13.45% to trade at RM1.03 with a trading volume of RM31.07 million after a continuous decline since Friday.</p><p><br /></p><p>The price dropped below RM1.00 for a while for the first time before bouncing back.</p><p><br /></p><p><br /></p><p>Investors seem to still lack confidence in the company, following a 73% decline in its net profit in the 2023 financial year from RM79.89 million to RM50.08 million.</p><p><br /></p><p>It follows an increase in input costs, including key dairy raw materials, high labor, agricultural and energy costs.</p><p><br /></p><p>Farm Fresh Bhd made its first appearance on Bursa Malaysia with an outstanding performance that raised its price to RM1.86 from its IPO of RM1.35.</p>