Aneka Jaringan Holdings Bhd (Aneka Jaringan) turned to profit, posting a gross profit (PBT) of RM3.05 million in 1Q FYE2024, in stark contrast to a gross loss of RM0.95 million in same quarter inthe previous year.
For the first quarter ended 30 November 2023 (1Q FYE2024), the group also reported a notable improvement in bottom line, with a profit after tax of RM1.39 million for 1Q FYE2024, compared to a loss after tax of RM4.62 million in 1Q FYE2023.
“This improvement is a testament to the group’s enhanced operational efficiency and project management capabilities,” it said.
For the quarter, the group posted RM58.78 million in revenue, an increase of RM5.94 million or 11.23% compared to RM52.85 million in the same period last year.
“The revenue growth was mainly due to the increase in jobs for the period. Following this strong performance, it’s noteworthy that this quarter marks the second consecutive period of profitability for Aneka Jaringan.
“The group previously reported a profit after tax of RM0.35 million in the last quarter (4Q FYE2023), reinforcing the momentum in its financial recovery and growth trajectory,” it said.
On a quarter-over-quarter basis, the group’s profit before tax (PBT) and profit after tax (PAT) demonstrated significant growth, increasing by 22.01% and 292.35% to RM1.53 million and RM1.39 million, respectively, in 1Q FYE2024.
“It also experienced a 14.1% increase in revenue, rising from RM51.52 million in 4Q FYE2023 to RM58.78 million in 1Q FYE2024.”
Its managing director Pang Tse Fui said the group’s performance in 1Q FYE2024 not only demonstrates its ability to adapt and thrive in challenging market conditions, but also marks a significant milestone in its recovery plan since 4Q FYE2023.
“We are particularly encouraged by PT Aneka Jaringan Indonesia’s (PTAJI) growth in Indonesia and are committed to maintaining this positive trajectory and delivering sustained value to our stakeholders in FYE2024 and beyond,” he said.
As of 1Q FYE2024, Aneka Jaringan’s total order book has grown substantially to RM253.59 million, with Malaysian operations contributing RM227.69 million and a notable increase from Indonesian operations contributing RM25.90 million.
