KUALA LUMPUR: Sarawak Consolidated Industries Bhd's net profit rose to RM926,000 in the first quarter ended Sept 30, 2023 from a loss of RM871,000 in the same quarter last year.
Revenue increased 30 per cent to RM39.4 million from RM30.3 million recorded in the same period last year.
The manufacturing division, the cornerstone of SCIB's success, reported a revenue of RM29.6 million and a pre-tax profit of RM4.2 million.
This is a significant uplift from the RM24.2 million in revenue and RM1 million in pre-tax profit seen in the same quarter of the previous year, driven by increased sales volume of foundation piles and enhanced profit margins.
In the construction/EPCC segment, SCIB registered a revenue of RM9.8 million, thanks to ongoing road maintenance and school projects, despite a pre-tax loss of RM0.3 million, primarily due to higher expenditures.
SCIB managing director Ku Chong Hong said the quarter's performance is a clear indicator of its resilience and strategic prowess.
"Our return to profitability is not just a number; it's a story of our relentless pursuit of excellence and efficiency in all our operations.
"We are excited about the prospects and opportunities that lie ahead, especially with Malaysia's economic resurgence and the initiation of substantial infrastructure projects," he said.
SCIB's strategic moves, including the recent MoUs with Irix Sdn. Bhd. and PT MRT Jakarta and securing Islamic banking facilities of RM34.0 million, are propelling the company towards new horizons of growth.
With an order book balance of RM257.19 million, SCIB said it was well-positioned to further its expansion.