T7 Global Bhd group chief executive officer Tan Kay Zhuin
KUALA LUMPUR: T7 Global Bhd
is confident that its energy and industrial solutions segments will continue to drive the group’s performance, supported by multiple projects currently in the pipeline.
Group chief executive officer Tan Kay Zhuin said the group is also actively pursuing good opportunities in the relevant businesses and further strengthen its position in the industry.
“Looking ahead, we are optimistic about the prospect of our energy segment, with two mobile offshore production unit (MOPU) units contributing to the group.
“In the industrial solution segment, we remain focused in our airport baggage handling system project and our recent win of the airfield surveillance radar systems contract from the Ministry of Defence. These projects will reinforce our position as a leading integrated solutions provider,” he said in a statement.
In the second quarter ended June 30 (2Q24), the energy solutions provider’s net profit jumped 65.3% to RM10.6mil, or earnings per share of 1.40 sen compared with RM6.4mil, or 0.82 sen in the same quarter last year.
Revenue rose to RM150mil in 2Q24 against RM104mil a year prior.
For the first half, T7 posted a net profit of RM15.2mil, up 42.9% from RM10.7mil a year ago while revenue expanded 42.6% to RM282.6mil versus RM198.1mil last year.
T7 Global said the robust financial performance was driven by improvements in both the energy and industrial solution segments, which recorded revenue growth of 42.8% and 42.4% respectively.
