Aneka Jaringan Holdings Berhad (Aneka Jaringan) says it is cautiously optimistic for the financial year ending 31 August 2024 (FY24).
Its managing director Pang Tse Fui said the group maintain a cautiously optimistic outlook for the financial year ending 31 August 2024 and anticipate continued growth in its key revenue streams.
“This is driven by our strategic investments in innovation and cost-efficiency measures, which we believe will help us navigate potential economic uncertainties and maintain our commitment to delivering value to our stakeholders,” he said in a statement today (Oct 26).
The basement and foundation construction specialist said it had turnaround its financial performance for the fourth quarter ended 31 August 2023 (4Q FYE2023), with a 1.1% increase in revenue of RM51.52 million compared to RM50.95 million last year.
Pang said the group achieved a gross profit of RM7.65 million for 4Q FYE2023, a sharp increase from RM2.96 million in the previous year.
Despite impairments amounting to RM2.46 million in the quarter, the group generated a net profit of RM0.35 million in 4Q FYE2023, signifying a rebound from the net loss of RM10.47 million incurred last year.
For the full financial year ending 31 August 2023 (FY 2023), the group generated a total revenue of RM188.58 million, up 9.59% from RM172.08 million in the previous year.
“The gross profit also improved significantly, transitioning from a gross loss of RM8.07 million in FY 2022 to a gross profit of RM8.61 million in FY 2023,” he said.
The group total order book has grown substantially to RM295.8 million for 4Q FYE2023, with Malaysian operations contributing RM282.87 million and a notable increase from Indonesian operations contributing RM12.94 million.
Pang said the group Indonesian subsidiary, construction specialist PT Aneka Jaringan Indonesia also secured multiple new projects including its first ever Diaphragm Wall project valued at IDR3.58 billion (RM1.07 million), two bored piling contract wins collectively valued at IDR39.77 billion (RM11.93 million).
Its other subsidiary, PT Aneka Jaringan Energy, specialising in the EPC of Solar Photovolatic systems had received its first purchase order for the feasibility study of a 30MWp solar farm project in West Java, valued at IDR450.0 million (RM0.15 million), he added.
“Our entry into the Indonesian renewable energy sector through PT Aneka Jaringan Energy is a particularly exciting development. We are confident in our team in Indonesia and we hope to see more projects in the months ahead.
“Meanwhile, PT Aneka Jaringan Indonesia continues to show promising results, with its PAT continuing to grow year on year,” he added.
