The group's revenue fell to RM817.61mil in 4Q24 compared to RM1.12bil in 4Q23.
PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd
(MMHE) has posted a net profit of RM21.38mil in the fourth quarter of the financial year ended Dec 31, 2024 (4Q24), which was more than triple the net profit of RM6.18mil in the year-ago quarter on the back of improved profitability in its heavy engineering and marine segments.
The group’s improved bottom line came despite a drop in revenue to RM817.61mil in 4Q24 as compared to RM1.12bil in 4Q23, following a decline in revenue from the heavy engineering business.
Over the full financial year or FY24, MMHE posted a net profit of RM121mil as compared to a net loss of RM484.19mil in FY23, while revenue was at RM3.61bil compared to RM3.31bil in the previous year.
In its results filing with Bursa Malaysia, MMHE said the heavy engineering segment registered a RM312.1mil decline in revenue to RM708.1mil in 4Q24.
