Automation solutions to drive Genetec


The tech company said securing recurring orders in the electric vehicle and energy storage segments are expected to anchor its earning prospects in the coming quarters.

PETALING JAYA: Genetec Technology Bhd anticipates increasing demand for its automation and energy storage solutions as customers continue to execute their production plans.

The tech company said securing recurring orders in the electric vehicle (EV) and energy storage segments are expected to anchor Genetec’s earning prospects in the coming quarters.

“Expectations are that revenue will be further complemented by potential opportunities in the new and other product divisions of the existing customers,” it said in a statement.

For the fourth quarter ended March 31, 2024, Genetec’s net profit improved to RM16.84mil from RM10.33mil. Revenue during the quarter rose to RM70.47mil from RM65.57mil a year earlier.

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