KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) returned to the black with a net profit of RM1.74 million in the fourth quarter ended June 30, 2024 (4Q24) from a net loss of RM19.61 million a year ago, underpinned by its construction and manufacturing divisions.
Its revenue rose 35.2 per cent to RM45.09 million from RM33.34 million previously.
SCIB registered earnings per share of 0.27 sen compared to a loss per share of 3.33 sen in 4Q23, according to its filing to Bursa Malaysia.
For the full year, SCIB registered a net profit of RM4.27 million compared to a net loss of RM24.33 million a year ago, while revenue increased RM166.88 million to RM132.04 million.
SCIB managing director Ku Chong Hong said the strong performance demonstrated its strategic focus and operational excellence.
"The successful completion of one of our school projects and the acquisition of new land for our production facilities are critical steps in our long-term growth strategy.
"We remain committed to delivering value to our stakeholders by maintaining profitability and exploring new opportunities in the construction and manufacturing sectors," he said in a separate statement.
SCIB remains optimistic about its prospects, driven by its continued focus on strategic recalibrations and a proactive approach to seizing growth opportunities.
The company said it is well-positioned to navigate the evolving economic landscape, aiming to drive sustainable growth and deliver long-term value to its stakeholders.
During 4Q24, SCIB achieved several key milestones, including the successful acquisition of five industrial leasehold plots in Demak Laut Industrial Park, Kuching.
The acquisition is expected to significantly enhance its production capacity, positioning SCIB to meet the increasing demand for concrete-related products in large-scale infrastructure projects across Malaysia.
SCIB said the expansion was a testament to its commitment to growth and operational efficiency.