TT Vision Holdings Bhd (TTVHB), a company principally involved in the development and manufacturing of machine vision equipment and provision of related products and services, reported a 75% surge quarter on quarter, in profit after tax (PAT) to RM3.18 million for the fourth quarter ended 31 December 2022 (Q4FYE2022). This was on the back of a 36.1% revenue growth to RM14.8 million. The increase in revenue was mainly attributed to the increase in sales of machine vision equipment to customers in China and Malaysia.
For the full year, the Group recorded a 12.1% increase in revenue from RM47.3 million in FYE2021 to RM53.0 million while PAT increased by 22.3% from RM8.3 million to RM10.2 million. The PAT margin increased from 17.6% to 19.3%. On a normalised PAT basis, with the exclusion of the listing related expenses of RM0.97 million, the Group would have recorded a PAT of RM11.17 million which translate to a PAT margin of 21.1%.
Commenting on the results, TTVHB CEO and Executive Director Goon Koon Yin said, “With the anticipated market growth in both automotive semiconductors and renewable energy industries, we believe we will continue to deliver revenue growth through our core machine vision equipment. Nevertheless, we are aware of the global macro-economic headwinds, including rising inflation and interest rates. We will implement the necessary strategies to ensure our growth plans remain intact.”
