PETALING JAYA: JCY International Bhd
posted a net profit of RM16.31mil in the fourth quarter ended Sept 30, 2024 (4Q24) on stronger revenue and other operating income.
For comparison, in the previous corresponding quarter, the hard disk drive (HDD) component maker had reported a net loss of RM29.4mil.
Meanwhile, JCY’s revenue in 4Q24 jumped by 33% year-on-year (y-o-y) to RM167.51mil.
Earnings per share for the quarter were 0.77 sen. The group did not declare a dividend for the quarter.
For the full financial year of 2024, JCY recorded a net profit of RM28.89mil as revenue increased by 27.6% y-o-y to RM606.68mil.
JCY said the improved results were due to the step-by-step improvement of the group’s structural cost in the last two years.
It was also due to the steady recovery of the HDD industry, thereby improving factory utilisation above the break-even point.
