KUALA LUMPUR: Industrial automation and power systems provider Swift Energy Technology Bhd registered a net profit of RM5.18 million and revenue of RM29.3 million for the fourth quarter ended Sept 30, 2024 (4Q24).
The company said its manufacturing segment remained the key driver of its business, contributing 75.11 per cent of the total revenue.
The Malaysian market was the largest revenue contributor, accounting for 35.84 per cent of total revenue during the quarter.
As a result, Swift Energy recorded an earnings per share of 0.69 sen for the quarter.
For the cumulative period of financial year 2024 (FY24), Swift Energy's net profit increased to RM16.85 million from RM11.95 million a year ago, while revenue rose to RM110.75 million from RM92.43 million previously.
Commenting on the results, chief executive officer Tan Bin Chee said the performance in FY24 underscores the effectiveness of its strategic initiatives and commitment to delivering value to its stakeholders.
He added that the company's strength lies in its ability to innovate and adapt to industry demands, backed by its IECEx-certified Ex solar PV modules.
"Our strategic collaborations with global technological leaders like Siemens further amplify our capabilities and market position.
"As we continue to leverage these competitive advantages, we are well-positioned to capitalise on global trends in industrial automation and renewable energy, driving sustainable growth and innovation," he said in a separate statement.
Swift Energy remains optimistic about the future, supported by several key industry trends.
It said the increasing global demand for efficiency, sustainability, and innovation is driving adoption of advanced technologies such as Internet of Things-enabled systems and energy-efficient solutions.