KUALA LUMPUR: Tex Cycle Technology (M) Bhd
has a greater appetite for, and is open to undertaking, mergers and acquisitions (M&As) for the greater good of all stakeholders.
“As such the board and management aim to drive Tex Cycle into becoming a stronger player in the environment, social and governance (ESG) market space with its involvement in scheduled waste management and renewable energy as well as other related activities which would be a great traction in the near future,” the waste management and recycling solutions provider said in a filing with Bursa Malaysia.
In the third quarter ended Sept 30, Tex Cycle’s net profit doubled to RM2.41mil compared with RM1.21mil posted last year, translating into an earnings per share of 0.88 sen from 0.48 sen last year.
Revenue for the quarter jumped 27.7% to RM10.6mil against RM8.3mil achieved a year ago.
For the first nine months, Tex Cycle posted a net profit of RM11.5mil, up 43.4% from RM8.03mil while revenue rose 3.8% to RM26.9mil from RM25.69mil last year.
"Tex Cycle has demonstrated exceptional resilience and strategic acumen in navigating the complex market dynamics this quarter.
“Our focused approach on core business efficiencies and strategic investments has not only driven substantial growth but also strengthened our market position. This performance underscores our commitment to sustainability and value creation for all stakeholders,” group chief executive officer Gary Dass Anthony Francis said in a statement.
