KUALA LUMPUR: Despite the challenging market outlook, Favelle Favco Bhd
holds an outstanding order book of approximately RM528mil as of Feb 19, 2025.
In a filing with Bursa Malaysia, Favelle Favco said this included RM119mil from its intelligent automation segment, with orders spanning the global oil and gas, shipyard, construction, wind turbine industries, and intelligent automation.
“Oil prices are expected to remain within the stable range, supporting stable investment levels. With rising construction activity in the Middle Eastern countries, shipyard modernisation and expansion include replacing ageing equipment. The group is hopeful for an increase in orders moving forward,” it said.
In the fourth quarter ended Dec 31 (4Q24), Favelle Favco’s net profit more than doubled to RM41.1mil, or 17.47 sen per share, lifting its full-year net profit to RM52.1mil, or 22.21 sen per share.
Its revenue rose 8.5% to RM331.9mil in 4Q24 from RM305.8mil in the same quarter last year, bringing full-year revenue to RM901.3mil.
The directors have proposed a final tax-exempt dividend of 9 sen per share for FY24, pending shareholder approval at the annual general meeting. The total payout is estimated at RM21.2mil.
