ACE Market bound, building materials wholesalers and distributors, Unitrade Industries Berhad have announced their fourth quarter with FY2022 revenue coming in at RM1.29 billion, which was a 25.9% year-on-year increase from RM1.03 billion posted in FY2021. Correspondingly, profit after tax and non-controlling interest climbed 50% YoY from RM28.8 million to RM43.2 million over the same period. The bottom line registered was the Group’s highest in its 43-year history.
In addition, Unitrade continued to record positive net operating cash flow, having generated an inflow of RM40.8 million in FY2022 while its gross cash and cash equivalents stood at RM95.7 million as of 31 March 2022.
Managing Director of Unitrade, Mr. Nomis Sim Siang Leng commented on the encouraging result “Our record-breaking performance was attributed to both external and internal factors, with the commodities bull-run and jump in steel prices being one of the key reasons. The upward trending market has worked in our favour as we distribute many steel-based products. At the same time, intrinsically, our diverse customer base and exposure to the full lifecycle of buildings and infrastructure have helped the Group sustain and even thrive through different phases of the business cycle. For example, our products are used in the repair and maintenance of buildings as well as mechanical and electrical equipment. During the pandemic, these activities faced lesser disruption as compared to constructions of new buildings and infrastructure.”
The company is confident the construction industry will make a rebound in 2022 and has seen an increase in procurement activities while order visibility provided by its customers has also been encouraging.
With the public issue of our IPO shares fully subscribed, we have locked in RM100 million of proceeds that will allow us to capitalise on the encouraging industry outlook.”
On a quarterly basis, the Group reported revenue of RM423.0 million and a net profit of RM10.2 million in 4QFY22. Unitrade is scheduled to be listed on the ACE Market of Bursa Malaysia Securities Berhad on 14 June 2022.
