ECA Integrated Solution Berhadin its first quarter financial results for the period ended 31 January 2023 reported a profit after tax and non-controlling interest of RM4.1 million on the back of RM10.6 million in revenue, translating into a healthy net profit margin of 38.7%. The results also included one-off listing expenses of RM0.7 million, without which the adjusted net profit would have been RM4.8 million with an adjusted net margin of 45.1%.
Sequentially, both revenue and reported net profit were up 35.4% and 39.1% quarter-on-quarter respectively against the preceding quarter of 4QFY22, buoyed by higher deliveries made for the integrated production systems and standalone automation equipment (“SAE”) in the quarter under review.
As for utilisation of proceeds, ECA has up to 31 January 2023 deployed 44.7% of the total RM25.5 million raised from its listing exercise. To recap, majority of the proceeds are earmarked for acquisition of new advanced machinery to bolster its production capabilities, as well as for working capital purposes in order to undertake larger customer orders. These strategic deployments of funds not only enhance its competitive advantage but also enables ECA to meet the rising sales orders and seize opportunities in the industry.
