PUCHONG: Crest Group Bhd recorded RM3.7 million in profit after tax (PAT) on the back of a revenue of RM39.63 million for its financial result for the second quarter ended June 30, 2024 (Q2’24).
Profitability remained healthy with a gross profit margin of 29.1% and a PAT margin of 9.3% in Q2’24.
For the six months year-to-date (H1’24), the company recorded total revenue of about RM79.28 million and PAT of RM6.62 million. Recognised in the H1’24 results were non-recurring one-off listing expenses of approximately RM2.09 million. After adjusting for listing expenses, the H1’24 PAT was RM8.71 million.
There are no available comparative figures for the immediate preceding quarter as this is the first interim financial report announced by the company ahead of its listing on the ACE Market of Bursa Malaysia Securities on Oct 9.
During Q2’24, the provision of imaging, analytical, and test solutions segment of Crest and its operating entities (Crest Group) contributed RM32.77 million or 82.7% of total revenue, while the provision of after sales-services segment generated RM6.86 million or 17.3% of total revenue.
For H1’24, the group’s provision of imaging, analytical, and test solutions segment remained the largest contributor to revenue contributing RM64.9 million or 81.9% of total revenue and the provision of after sales-services segment contributing RM14.4 million or 18.1% of total revenue.
Crest Group nanaging director Lim Siong Wai said they remain optimistic about their long-term prospects, driven by their strong competitive positioning within the industry.
“The imaging, analysis, and testing market in Malaysia has seen significant growth, expanding from RM4.33 billion in 2020 to RM7.25 billion in 2023, with a compound annual growth rate of 18.7%. This growth is propelled by the increasing demand across various industries such as electrical and electronics, semiconductors, automotive, aerospace, healthcare, life sciences, material sciences, and oil and gas, as well as government support and initiatives and the rising adoption of IoT and Industry 4.0 technologies,” he added.
In alignment with these growth trends, he said, they are committed to expanding their operations.
“We plan to open new branch offices in China and Vietnam, whilst hiring additional personnel to better serve existing customers and to secure new customers. In addition, we will establish a new centralised headquarters in Selangor to streamline our operations in the central region in Malaysia and invest in advanced imaging and sample management equipment for our demonstration rooms in Malaysia, China, and Thailand to provide our customers with a better overall experience,” said Lim.
The imaging, analysis, and testing market in Malaysia has seen significant growth, expanding from RM4.33 billion in 2020 to RM7.25 billion in 2023.
Source:
The Sun Daily
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