KUALA LUMPUR: Wentel Engineering Holdings Bhd registered a net profit of RM4.46 million in the second quarter (Q2) ended June 30, 2024, on the back of RM28.78 million in revenue.
This growth is primarily attributed to a significant increase in orders for the assembly of finished products segment.
There was no dividend paid during the current financial quarter and financial year-to-date under review.
For the first half ended June 30, 2024 (1H24), Wentel posted a net profit of RM4.99 million. Its revenue stood at RM54.56 million.
There are no comparative figures for the preceding year's corresponding quarter and year-to-date as this is the first interim financial report for its Q2.
In a statement, executive director Wong Chun Wei said Wentel remains committed to leveraging its competitive strengths and expanding the company's market presence to drive continued value creation for stakeholders.
Wong said this commitment will be further supported by its recent expansion with the new manufacturing plant in Johor Bahru, which is targeted to commence operations in the first half of 2026.
"The new plant is expected to substantially enhance our production capacity and operational efficiencies, positioning us to capitalise on the resurgence of global trade economies.
"As demand rises, we are confident in achieving satisfactory financial performance for the fiscal year ending 2024," he said.