A fire safety and protection company Unique Fire Holdings Berhad’s (Unique Fire) net profit rose by 349.1% to RM2.4 million for its second quarter results for the financial year ending 31 March 2024, compared to RM0.5 million the previous year.
“The improved net profit was a result of higher revenue base, lower purchase price for material and trading goods, as well as the absence of one-off listing expenses.
“A one-off listing expense of RM0.8 million was incurred in the corresponding quarter last year in relation to the initial public offering exercise,” it said in a statement today.
The group said as for the revenue, it posted RM27.9 million for the quarter under review, an increase of 29.3% from RM21.6 million during the same period last year.
“All business segments recorded growth in revenue, namely the assembly, distribution and manufacturing segments, with an increase of 17.8%, 44.5% and 37.1% respectively to RM12.5 million, RM8.3 million and RM6.6 million.
“These can be attributed to the resumptions of construction projects, previously halted due to the movement control order, which resulted in higher sales being recorded during the quarter,” it said.
Managing director Liew Sen Hoi said it is delighted with the group’s outstanding financial performance in the second quarter of FYE2024.
“Our two new hand portable dry chemical fire extinguisher manufacturing lines are expected to commence operations in the first quarter of next (calendar) year. With this said, we are hopeful that we will be able to support the growing demand in the domestic and export markets,” he said.
Liew said Unique Fire’s business strategies remain intact in expanding its business.
“Driven by the sustained positive momentum of the construction sector and the opportunities arising from the fire safety regulations, we are well-positioned to drive continuous revenue growth and sustainable profitability, going forward.
“We are cautiously optimistic that FYE2024 earnings will be higher than last year, given that our first half performance has surpassed last year’s net profit,” he added.
