MCE group managing director Goh Kar Chun
PETALING JAYA: MCE Holdings Bhd
's net profit more than doubled in the second quarter ended Jan 31, 2025 (2Q25), driven by gain on disposal of land and interest income.
The manufacturer of automotive electronic and mechatronic parts saw a 112% year-on-year (y-o-y) increase in net profit to RM9.57mil, or earnings per share of 7.26 sen.
This was despite a lower revenue recorded in 2Q25, which fell by 14% y-o-y to RM34.29mil.
In a filing with Bursa Malaysia, the group said the lower revenue was due to lower customer demand and festive holidays which occurred during the quarter, resulting in fewer working days.
Cumulatively, for the first-half period, MCE's net profit surged by 53% y-o-y to RM14.42mil, even though revenue fell by almost 7% to RM75.71mil.
Looking ahead, MCE group managing director Goh Kar Chun said the group is diversifying beyond the automotive sector through a joint venture focus on non-automotive contract manufacturing, covering a range of products, including die-cut machines, precision tools, and packaging solutions for the cosmetics industry.
MCE declared a first interim dividend of 6 sen per share, which has an ex-date of April 29, 2025 and is payable on May 15, 2025.
