PLYTEC Holding Berhad announced its financial results for the fourth quarter and full year achieving an all-time high revenue of RM201.1 million, marking a notable 22.0% growth from RM164.8 million in the previous year, driven by commendable growth across all business segments. Profit before tax in turn jumped 99.0% to RM20.1 million. the group said PBT growth would have been even higher if not for the provision of a one-off impairment loss of RM3.0 million on trade receivables, as opposed to previous year’s RM0.6 million. Profit after tax and minority interests surged by 110.8% to RM13.7 million.
For the fourth quarter, PLYTEC recorded revenue of RM54.3 million, reflecting a robust 30.2% increase from RM41.7 million in the corresponding quarter of the previous year (“Q4FYE2023”). PBT saw a significant turnaround, rising to RM1.9 million, rebounded from a loss before tax of RM2.8 million in Q4FYE2023.
Excluding the above-mentioned impairment, the Group would have achieved a PBT of RM4.7 million. PATAMI was RM1.1 million as opposed to Q4FYE2023’s RM3.0 million loss.
