KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) registered a net profit of RM755,000 in the third quarter (Q3) ended March 31, 2024 from a net loss of RM1.03 million a year earlier from its manufacturing and construction/engineering, procurement, construction and commissioning (EPCC) business.
The company reported a commendable revenue of RM44.3 million, marking a 36.86 per cent increase from RM32.4 million in the same quarter last year.
"The improvement of revenue and better profit before tax in the current quarter were mainly due to contributions from both the manufacturing and construction/EPCC segments," it said in a filing with Bursa Malaysia.
There was no dividend paid by the Company during the quarter and financial period under review.
For three months ended March 31, 2024, the company registered a net profit of RM2.53 million from a net loss of RM4.73 million last year, while revenue rose to RM121.79 million from RM98.70 million previously.
SCIB managing director Ku Chong Hong said the company is confident in its ability to maintain profitability going forward with these new projects, which resonate with its values of delivering high-quality living spaces while adhering to the highest standards of construction and environmental sustainability.
Looking ahead, Ku said SCIB remains optimistic about the company's prospects, driven by strategic recalibrations, a renewed focus on governance, and a proactive approach to seizing growth opportunities.
"The company is committed to navigating the current economic landscape with agility, aiming to drive sustainable growth and deliver long-term value to stakeholders," he added. Ends