KUALA LUMPUR: RedPlanet Bhd posted a 21.3% increase in net profit to RM6.33mil for the financial year ended June 30, 2026 (FY26), from RM5.22mil a year earlier, ahead of its transfer to Bursa Malaysia's ACE Market on Oct 22.
Revenue rose 22.3% to RM40.72mil from RM33.30mil previously.
Excluding RM980,000 in non-recurring listing expenses, adjusted net profit increased 35.1% to RM7.31mil from RM5.41mil.
In a statement, the enterprise ICT solutions provider said its geospatial solutions segment contributed RM18.4mil, or 45.1% of total revenue, followed by intelligent rail solutions at RM11.6mil and ICT solutions and ancillary hardware trading at RM10.8mil.
Malaysia accounted for 87% of the group's revenue, with the remainder generated from overseas markets.
For the fourth quarter ended June 30, 2026, RedPlanet recorded a net profit of RM1.36mil on revenue of RM7.55mil.
No comparative figures were provided for the corresponding quarter last year as this was the group's first interim financial report under the ACE Market listing requirements.
Non-independent executive director/ managing director Lian Wah Seng said the group's revenue growth was supported by its ICT solutions business, alongside contributions from its geospatial and intelligent rail solutions segments.
As at June 30, RedPlanet had cash, bank balances and fixed deposits totalling RM13.8mil against borrowings of RM5.2mil.
Net cash generated from operating activities more than doubled to RM9.5mil from RM4.7mil a year earlier.
RedPlanet's initial public offering (IPO) involves the issuance of 70 million new shares at 19 sen each, raising RM13.3mil, alongside an offer for sale of 10 million existing shares.
Of the proceeds, RM8.12mil has been allocated for business expansion, RM2.38mil for working capital and RM2.80mil for listing expenses.
The Malaysian public portion of the IPO was oversubscribed by 85.28 times.
Upon its ACE Market debut, RedPlanet will have an enlarged share capital of 410.65 million shares, giving it an estimated market capitalisation of RM78.02mil based on the IPO price.
UOB Kay Hian (M) Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for RedPlanet.
