SCIB turns profit in 3Q24

SCIB group managing director Ku Chong Hong,

KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB), which posted a small net profit in the third quarter ended March 31 (3Q24), is confident of maintaining its profitability going forward, according to managing director Ku Chong Hong.

In 3Q24, the industrialised building systems specialist posted a net profit of RM755,000, or earnings per share of 0.12 sen compared with a net loss of RM1.03mil, or loss per share of 0.18 sen in the same period last year.

Revenue for the period rose to RM44.3mil against RM32.4mil last year.

For the first nine months, SCIB posted a net profit of RM2.5mil on revenue of RM121.8mil.

“Achieving a profitable 3Q24 underscores our resilience and strategic vision. This success, combined with our commitment to environmental, social, and governance (ESG) principles, sets the stage for sustainable growth. Our recent milestones, including securing significant contracts and strategic land acquisitions, are crucial to our long-term objectives.

“We are confident in our ability to maintain profitability going forward with these new projects, which resonate with our values of delivering high- quality living spaces while adhering to the highest standards of construction and environmental sustainability,” Ku said in a statement.

Looking ahead, SCIB remains optimistic about the company’s prospects, driven by strategic recalibrations, a renewed focus on governance, and a proactive approach to seizing growth opportunities.

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