Genetec returns to the black with record profit of RM56.4mil in FY22

KUALA LUMPUR: Genetec Technology Bhd swung to the black in its 2022 financial year with a net profit of RM56.4mil, it's highest to-date, as compared with a net loss of RM4.25mil in the previous year.

Revenue during the 12-month period came in at an all-time high of RM223.56mil, which was more than double revenue of RM97.08mil in the year before, underpinned by contributions from the electric vehicle and energy storage segments.