KUALA LUMPUR: Kinergy Advancement Bhd
(KAB) expects stronger contributions to revenue and profit growth in the upcoming quarters, projecting sustained momentum that could see a doubling of 2023’s results.
“The group remains firmly focused on meeting its financial year ending Dec 31, 2024 (FY24) targets, and its scalable business model supports a bullish outlook for exceeding past performance, with a substantial uplift in profits expected in FY25,” executive deputy chairman-cum-group managing director Datuk Lai Keng Onn said in a statement.
In the second quarter ended June 30 (2Q), KAB’s net profit rose 66.1% to RM5.6mil, or an earnings per share of 0.28 sen against RM3.3mil, or 0.19 sen, in the same corresponding period last year.
Revenue, however, fell 7.2% to RM41.8mil from RM45.1mil a year prior.
For the first half, it posted a higher net profit of RM10.5mil on a revenue of RM83.9mil.
KAB said since 2023, sustainable energy solutions reported substantial growth with consistent performance improvements.
In the first half of the current financial year, the segment generated RM46.14mil in revenue and RM14.2mil in operating profit, a significant increase from RM12.9mil in revenue and RM6.4mil in segment results from the previous year.
KAB anticipates a continued upward trajectory in its financial performance.
