{"id":87651,"date":"2026-10-15T12:52:00","date_gmt":"2026-10-15T12:52:00","guid":{"rendered":"https:\/\/english.saigonbiz.com\/vn\/?p=87651"},"modified":"2026-10-16T01:49:54","modified_gmt":"2026-10-16T01:49:54","slug":"kandal-m-venture-limited-reports-significant-gross-profit-growth-of-45-in-financial-results-for-the-six-months-ended-september-30-2026","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/kandal-m-venture-limited-reports-significant-gross-profit-growth-of-45-in-financial-results-for-the-six-months-ended-september-30-2026\/","title":{"rendered":"Kandal M Venture Limited Reports Significant Gross Profit Growth of 45% in Financial Results for the Six Months Ended September 30, 2026"},"content":{"rendered":"<p><em>Revenue up 21% to US$9.5 million; gross margin expanded 3.8 percentage points to 22.5%, operating income increased to $538,000, compared to the prior year period<\/em><\/p>\n<p align=\"justify\">TAKHMAO, Cambodia, Oct.  15, 2026  (GLOBE NEWSWIRE) &#8212; <strong>Kandal M Venture Limited<\/strong> (<strong>Nasdaq: FMFC<\/strong>) (\u201c<strong>Kandal<\/strong>\u201d or the \u201c<strong>Company<\/strong>\u201d), a contract manufacturer of affordable luxury leather goods with manufacturing operations in China and Southeast Asia, today announced its unaudited financial results for the six months ended September 30, 2026, the first half of its fiscal year ending March 31, 2027.<br \/>\u00a0\u00a0<br \/><strong>Management Commentary<\/strong><\/p>\n<p align=\"justify\"><strong>\u201c<\/strong>During fiscal 2026, we navigated an uncertain macroeconomic environment reflecting geopolitical and economic challenges. Yet, we positioned the Company for sustainable success by providing our customers with premium leather goods at affordable prices and investing in our business operations,\u201d said Mr. Duncan Miao, Chairman of the Board of Kandal. \u201cIn the first half of fiscal 2027, we followed that progress by executing each of the four strategic priorities we have previously communicated to our stakeholders.\u201d<\/p>\n<p align=\"justify\">Mr. Miao continued, \u201cIn total, the first half of fiscal 2027 has shown increased momentum in relation to our customer base, our manufacturing capabilities and our financial performance which we are sharing with you today. Looking forward, we believe that our business model and execution will continue to support further revenue growth and profit expansion.\u201d<\/p>\n<p align=\"justify\">Our recent strategic execution efforts included:<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify;\"><u>Broadened our customer base and geographic reach<\/u>: We continued building relationships with both Asian and European customers and fulfilled bulk production orders during the first half of fiscal 2027. This growth in key global markets is diversifying our customer base and reducing the concentration of our customers headquartered in the U.S.<\/li>\n<li style=\"text-align:justify;\"><u>Enhanced production capacity and efficiency<\/u>: Following investments made in fiscal 2026, we now have manufacturing and production facilities located across China and Southeast Asia, specifically in Cambodia, and the Philippines. This expanded footprint provides workforce benefits and flexible, cost-effective production environments.<\/li>\n<li style=\"margin-bottom:8pt; text-align:justify;\"><u>Utilized tech-enabled manufacturing<\/u>: We implemented and continue to explore opportunities to employ technology-enabled machinery and processes to drive increased cost efficiencies, consistent quality control and accelerated time to market.<\/li>\n<li style=\"margin-bottom:8pt; text-align:justify;\"><u>Improved financial performance &amp; flexibility<\/u>: We anticipate further revenue growth from our increasingly global customer base across both affordable luxury and contemporary brands in the second half of fiscal 2027 and beyond. We also expect that improvements in business scale, operations processes and customer diversity will support further margin expansion and improved profitability.\n<\/li>\n<\/ul>\n<p align=\"justify\"><strong>Results of Operations<\/strong><\/p>\n<p align=\"justify\"><strong>Six\u00a0months ended September\u00a030, 2025, compared to six\u00a0months ended September\u00a030, 2026<\/strong><\/p>\n<p align=\"justify\">The following table sets forth a summary of the consolidated results of operations for the Company for the periods indicated.<\/p>\n<table style=\"border-collapse: collapse; width:100%; border-collapse:collapse ;\">\n<tr>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"6\" style=\"border-bottom: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; \"><strong>For the six\u00a0months ended <\/strong><br \/><strong>September\u00a030,<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2025<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt ; text-align: center ;  vertical-align: middle; vertical-align: bottom ; \"><strong>2026<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: center ;  vertical-align: middle; vertical-align: bottom ; \"><strong>US$ (\u2019k)<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: center ;  vertical-align: middle; vertical-align: bottom ; \"><strong>US$ (\u2019k)<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:66%; width:66%; min-width:66%;;vertical-align: bottom ; \">Revenue<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"max-width:14%; width:14%; min-width:14%;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">7,904<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"max-width:14%; width:14%; min-width:14%;;text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">9,556<\/td>\n<td style=\"max-width:1%; width:1%; min-width:1%;;text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">Cost of sales<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(6,424<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(7,406<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">Gross profit<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">1,480<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">2,150<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">Selling and distribution expenses<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(114<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(132<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \">General\u00a0and administrative expenses*<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(1,176<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">(1,480<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom ; \"><strong>Income from operations<\/strong><\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">190<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt ; vertical-align: bottom ; \">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; \">538<\/td>\n<td style=\"text-align: left ;  vertical-align: middle; padding-left: 0 ; vertical-align: bottom ; \">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">* General and administrative expenses excluded the following expenses: (1) unrealized fair value re-measurement on the convertible bonds and (2) direct offering costs incurred in relation to the issuance and acquisition of convertible bonds.<\/p>\n<p align=\"justify\"><strong>Revenue<\/strong><\/p>\n<p align=\"justify\">For the\u00a0six months ended September 30, 2025, and 2026, we generated our revenue through sales of leather goods.<\/p>\n<p align=\"justify\">Our revenue increased by 20.9%, from US$7,904k for the six months ended September 30, 2025, to US$9,556k for the\u00a0six months ended September 30, 2026.<br \/>\u00a0\u00a0<br \/><strong>Cost of sales<\/strong><\/p>\n<p align=\"justify\">Our cost of sales consists mainly of raw material costs, direct labor costs and factory overheads<em>.<\/em><\/p>\n<p align=\"justify\">Our cost of sales increased by US$982k or 15.3%, from US$6,424k, for the six months ended September 30, 2025, to US$7,406k for the six months ended September 30, 2026.<\/p>\n<p align=\"justify\"><strong>Gross profit and gross profit margin<\/strong><\/p>\n<p align=\"justify\">Our gross profit increased by US$670k or 45.3%, from US$1,480k, for the six months ended September 30, 2025, to US$2,150k for the six months ended September 30, 2026. Our gross profit margin increased by 3.8 percentage points from 18.7% for the six months ended September 30, 2025, to 22.5% for the six months ended September 30, 2026.<\/p>\n<p align=\"justify\">The increase was primarily due to the significant improvement in productivity by over 30% in output per hour as a result of (i) the introduction of a KPI-related incentive program which rewards higher efficiency; (ii) the addition of new, technologically advanced machines which improved productivity; and (iii) higher revenue which better utilizes our production capacity.<\/p>\n<p align=\"justify\"><strong>Selling and distribution expenses<\/strong><\/p>\n<p align=\"justify\">Our selling and distribution expenses consisted of export expenses, trucking costs and customs clearance fees.<\/p>\n<p align=\"justify\">The amounts increased by US$18k or 15.8%, from US$114k for the six\u00a0months ended September\u00a030, 2025, to US$132k for the six\u00a0months ended September\u00a030, 2026. The increase was in line with the higher revenue during the six months ended September 30, 2026.<\/p>\n<p align=\"justify\"><strong>General and administrative expenses<\/strong><\/p>\n<p align=\"justify\">Our general and administrative expenses consisted of salaries, welfare and other benefits, director\u2019s remuneration, management fees, professional services fees, office expenses and utilities, depreciation and others.<\/p>\n<p align=\"justify\">The amounts increased by US$304k or 25.9%, from US$1,176k for the six\u00a0months ended September\u00a030, 2025, to US$1,480k for the six\u00a0months ended September\u00a030, 2026, which was mainly due to the increase in salaries, director\u2019s remuneration and professional services fees after the completion of our initial public offering on June 25, 2025, offset partially by the discontinuation of management fees paid to a related company upon listing.<\/p>\n<p align=\"justify\"><strong>Income from operations<\/strong><\/p>\n<p align=\"justify\">As a result of the foregoing, our income from operations increased by US$348k or 183.2% from US$190k for the six\u00a0months ended September\u00a030, 2025, to US$538k for the six\u00a0months ended September\u00a030, 2026, mainly due to the increase in sales and gross profits, offset partially by the increase in general and administrative expenses.<\/p>\n<p align=\"justify\"><em>The financial results for the six months ended September 30, 2026, included in this press release are unaudited and subject to change upon completion of the Company\u2019s financial closing procedures. The Company\u2019s actual results may differ materially from these unaudited results. The Company expects to furnish its unaudited interim financial statements for the six months ended September 30, 2026, on Form 6-K in or about January 2027.<\/em><\/p>\n<p align=\"justify\"><strong>About Kandal M Venture Limited<\/strong><\/p>\n<p align=\"justify\">Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Southeast Asia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.<\/p>\n<p align=\"justify\">For more information, please visit the Company\u2019s website at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Dh65oJymUbiJwpgivlbi42_CFKIUjtxjx8YfF2f2HyRpgD8NlzKSju4QlXDAGKPyPUVQmqHe6rUXLr99TdLbtMQDh6jeLym4MErFeVf92U4dmxoxJKdodlyUg0LsF8BAndiNuuHIoaGgKDrdxDOK59J2xhNXJlxbx0OPyXHa_JbGwUjJDHUrnNMmLVp4jFuGpcD4zIbwwe4vQbIt6vRYpvsKw7AtSVDhP5sRjeAObCcbqmfO3E3clH2MMh9chyNoR_gGJQJJCODgWQzNrX96F2DhAmh3lwbSDObP7PqcoTHBC1AFvD_zi6UlekmJWymh32RlyGxmZKWgHCJRkjMoccKV9i6Zk7F0jXgihs9hzhIPhUcE0lZUw4nwFAIUhYbS18Uy8Qbnqaa0KqIv90eidc-Yb1HD3j5wVKDVyxYnplQBxyznsnf8QcnP6ZxJ5ENBpxHjbX3oXbf3HdXc5D0M1G8zcDkcsFfClCPBJ8p58pw=\" rel=\"nofollow\" target=\"_blank\" title=\"www.kandalmv.com\">www.kandalmv.com<\/a>.<\/p>\n<p align=\"justify\">Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company\u2019s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company\u2019s financial statements and other reports it files with or furnishes to the SEC before making any investment decisions regarding the Company\u2019s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.<\/p>\n<p><strong>Contacts:<\/strong><\/p>\n<p><strong>Company:<\/strong><br \/>Kandal M Venture Limited<br \/>Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,<br \/>Kingdom of Cambodia<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Akpz5IR3ssL64XqqXf5iA7v7n7rmUX5uInHv0KlXeIkgKkT1LtaHT9rNNhBQU-DCZDPB0HCNP_uMF8Czu9a68nPFjciLSThfmb7yQaN5lMzDuYsNmYWLaRzllrckVE_lKVNJQEEeC7xwfYu4LHSNPIZnWJ0n0TXLWKfJad_Doq_30iV-eVhMOpVQWZ1cqafxme9SuyvTe2BkMhiCGE5E_y00PCUk9H4kC_MXn2WWXhV9VyXdYhi5eSuLIJeqaDzIvXFi3xEY0YuFGIrp1nJuXw==\" rel=\"nofollow\" target=\"_blank\" title=\"enquiry@fmfco.com.kh\">enquiry@fmfco.com.kh<\/a><br \/>Telephone: +855 23425205<\/p>\n<p><strong>Investor Relations Contact:<\/strong><br \/>Scott Powell, President<br \/>Skyline Corporate Communications Group, LLC<br \/>1177 Avenue of the Americas, 5th Floor<br \/>New York, New York 10036<br \/>Office: +1 (646) 893-5835 x2<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gZuFSTvRarcfHQtueP2ld_Jw9kIeGnDRbCSAX-tMvw7DtGhM9p13w6pwkvr1DAgIacvuVSsqNKrjF808Yvd4DfhZ5z_PaC1ZGvgbe22Bh1uiY1i7vkG4bwIl1v1s5pdH3J1-3bgsErxd54TaMuQS83nI_ya26AM-hMxowh-Wa9U8nklB6VZWsF3eyEn_OV4jt1Ix6dnXUM-KtvguHGGrDbf88ew3-leC3kl7eBqCjRPdUhcHYECmBOGg4oKHgK9EV0WnhOffkUrdopIgFuTe0Q==\" rel=\"nofollow\" target=\"_blank\" title=\"ir@skylineccg.com\">ir@skylineccg.com<\/a><br \/>Website:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MTzvEqwjbaBgojywdMR-u7on8ckQrgs2n26X5l_8eMlkOhqdsHvBNhbMAwhxeuB-2FftErAP4z2a2xRI_vJhqxz9j7FzpkaOVR73fihjiyozpl3ypT5ewCpet_8X2mw3BXipNAEkg4aqHHPlcoCrhAQXKAQzJnvbMAIK8luWbjIQhp6PC82WdhbNzS1XxPGW5e1bkSieRZOPfPiJ5LkYyZmpfXY60MHyoeUIOYPLhgP6AeyAGe4NqHpt0Yc-Ei8ou55wDO2EYKqw3-fjLAXdvA==\" rel=\"nofollow\" target=\"_blank\" title=\"www.skylineccg.com\">www.skylineccg.com<\/a>\u00a0<\/p>\n<p><img alt=\"\" src='https:\/\/ml.globenewswire.com\/media\/MDU2Yzg3YzctOWI5ZS00YmI0LTlkNWUtZWRmMzU3YTA2Y2ZjLTUwMDEzMTA0Ny0yMDI2LTEwLTE1LWVu\/tiny\/Kandal-M-Venture-Ltd.png' referrerpolicy='no-referrer-when-downgrade' \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Revenue up 21% to US$9.5 million; gross margin expanded 3.8 percentage points to 22.5%, operating income increased to $538,000, compared to the prior year period TAKHMAO, Cambodia, Oct. 15, 2026 (GLOBE NEWSWIRE) &#8212; Kandal M Venture Limited (Nasdaq: FMFC) (\u201cKandal\u201d or the \u201cCompany\u201d), a contract manufacturer of affordable luxury leather goods with manufacturing operations in [&#8230;]\n","protected":false},"author":1,"featured_media":87652,"comment_status":"open","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-87651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globe-newswire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.6 (Yoast SEO v21.6) - 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