KUALA LUMPUR: Atlan Holdings Bhd
expects that the business environment it operates in will remain challenging for the remaining quarter of the financial year ending Feb 29, 2024 (FY24).
“This expectation stems from the escalating product and operating costs due to the weakening of the ringgit against major foreign currencies, along with the added strain of inflationary pressures and a cautious approach of consumer spending,” Atlan said in a filing with Bursa Malaysia.
The group is committed to improving operational efficiency by implementing strict cost controls and formulating strategies to navigate the ever-changing business landscape.
In the third quarter ended Nov 30, Atlan’s net profit rose 9.45% to RM6.5mil, or earnings per share of 2.55 sen against RM5.9mil, or 2.33 sen posted in the same period last year.
Its revenue rose 19.1% to RM117.2mil compared with RM98.4mil a year ago.
In the first nine months to Nov 30, Atlan posted a net profit of RM15.3mil on revenue of RM324.9mil.
The company declared a second interim single tier ordinary dividend of 4.0 sen per share in respect of FY24 amounting to RM10.15mil. The book book closure date is fixed on Jan 31 and is payable on Feb 22.
